On Thursday December 27 I posted my preferred views on the major USD-corsses (you can see it here: http://theelliottwavesufer.blogspot.dk/2012/12/elliott-wave-analysis-of-eurusd-usdchf.html)
However I would like to show you my top alternate count on USD/CHF as this easily could have been my preferred count.
Instead of a wave 1 top at 0.9584 in early January 2012. Wave 1 might first have ended in late July at 0.9972 and the present ongoing correction is wave 2. The question is of cause whether wave 2 has ended already or a deeper correction is needed? As we have seen a correction to the Triangle apex wave 2 could be over. It's very common for wave 2 to terminate at the Triangle apex (where the two lines meet). If wave 2 is over we should soon see a break above 0.9245 and more importantly a break above 0.9383, which will confirm the bottom of the double zig-zag correction from 0.9972 and a new test of resistance at 0.9972. Looking at the long term picture of USD/CHF (see the monthly chart below) a break above resistance at 0.9972 is needed to confirm a more bullish long term view.
I have no count on the monthly chart, but you will likely be able to see my drift, without any difficulties.
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