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Hello.
We’ve been getting a couple questions about the USD/CHF and, as it turns out, we have a pretty nice wave formation going rigth now so we thought we’d give you our count of this currency pair.
Refer to the chart.
As you can see, we had a nice 5 wave movement up that is pretty self explanatory on the count. Now, we’re in the retracement wave.
After the pair peaks at Wave 5, some analysts would put the first wave (the one we marked “i”) as the “a” wave. Although this may be correct, it is very short in both time and price so we’re labeling that as the first wave of the 5 wave corrective “a” wave.
We then see we have a 5 wave movement down to complete the “a” wave and am now heading up into the “b” wave of the retracement. Look for it to top soon and then head down for a “c” wave. If the pair goes above the high of Wave 5, then this will invalidate this forecast.
Remember to use your trailing stops and apply your money management when trading.
Good luck and if we don’t see you before then, we hope everyone has a restful and relaxing weekend.
how is usd\chf moveing
Hello Odum,
Thanks for inquiring about the USD/CHF.
Here is our anaylysis on the USD/CHF well before the opening of the European session and US session for the NFP announcement.
Good luck and happy trading.