Wednesday, September 25, 2013

Elliott wave analysis of USD/CHF

USD/CHF

Is at strong support here and this needs to hold other wise we will see a powerful decline (I don't think that SNB will allow that...).

Support at 0.9015 can not be broken if this Count is valid and as long as support at 0.9015 holds firm I believe this Count is valid. I will be looking for a break above 0.9138 as the first indication, that wave e of the B-wave triangle is over and that wave C is developing for a powerful rally higher towards 1.1731 where we find the top of wave 4 of the previous impulsive decline.

So we are at make or break it territory here. STAY FLEXIBLE

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