Swiss Franc Technical Outlook

Published May 30th, 2008 - 07:54 GMT
Al Bawaba
Al Bawaba

We know this about the USDCHF; the decline from 1.0624 to 1.0214 is in 3 waves, which is corrective.



However, the entire advance from .9647 is also in 3 waves (triangle as wave B).  One possibility is that price action since 1.0624 is tracing out another triangle, but in larger degree (as an X wave).  If this is the case, then a choppy decline back to 1.03 is the next move.