USD/CHF - Bottom likely in place, break above 0.9625 will a strong indication

USD/CHF - Bottom likely in place, break above 0.9625 will a strong indication

USD/CHF - Bottom likely in place, break above 0.9625 will a strong indication 

The double zig-zag correction from 1.0330 finally seems to have completed for the next strong rally to above 1.0330. 

Short term, I will be looking for a break above minor reistance at 0.9625 as the first strong indication that this in fact the case, while a break above resistance at 0.9780 will be needed to confirm that wave 2 has bottomed and wave 3 to above 1.0330 is develping. 

It will take an unexpected break below important support at 0.9476 to invalidate the long term bullish outlook. 

USD/CHF - Target at 1.0252?

USD/CHF - Target at 1.0252?

USD/CHF upside target at 1.0249? 

USD/CHF and EUR/USD is a mirrow of each other, only that if one move up the other declines. If one has the count of EUR/USD right you can be pretty sure you have the count for USD/CHF correct too. I do like the above count showing a top at 1.0249, which would fit nicely into the expectation of a bottom at 1.1703 for EUR/USD, but I have a problem...

Take a look at all the idicators for USD/CHF. We have none and I do say none divergence at all and that is not what, we would expect if a top is close by. So maybe my USD/CHF count is incorrect and maybe it's much more bullish. The count below is a totally valid count and what I especially like about it, is that wave (v) ended almost exactly at the 38.2% target of the rally from the bottom of wave (i) to the top of wave (iii) added to the bottom of wave (iv), but if this is the case, then wave (2) became extremly small and wave (3) higher towards at least 1.0594 is developing. But if this count is correct, then I would seriously question my EUR/USD count and expect the 1.1703 target to be taken out as if it was nothing more than butter being sliced by a hot knife. 

At this point I will stick with the upper count looking for a top at 1.0252, but I will not figth for this count, if resistance at 1,0252 is taken out without problems and if that happens I would be very quick to change my count for EUR/USD too. 

USD/CHF - Very bullish alternate count calling for a rally to at least 1.0594

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JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...
Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani