An overview of the
currency markets by 
Hello everyone.
Here is an analysis on the USD/CHF and we’ll show you how you can work in trend lines with your Elliott Wave analysis.
First, let’s take a look at the trend lines. What we did is simply draw a trend line and duplicate the exact trend line and place them on different trend lines on the chart. We can see this particular trend line fits in well 3 times in our current chart so we can use this trendline to help predict potential future movement of the market.
Moving to our wave count, you can see that in our last movement down, we have come down to complete Wave 1, up to wave 2 and we are currently completing Wave 3. Once wave 3 completes, you can place the trend line where Wave 3 ends and use that trendline to see potential future movement.
Once Wave 3 completes, look for a move up to complete Wave 4 and then move back down to complete wave 5 of the movement down.
Moving over to the US NFP announcement, most experts and analysts are saying that good news about the US economic status is not anywhere in the near future. For numbers, experts and analysts are predicting:
A loss of 500,000 to 800,000
Unemployment rate to 7.9% (up from 7.6%)
Be sure to monitor your trades when trading during the NFP. Use your stops and apply your money management.
For more NFP news and analysis, please visit the FX Street website. They are definitely a great resource for all your NFP news and analysis.
Good luck and have a nice, restful and safe weekend.