Elliott Wave Analysis of the USD/CHF Currency Pair by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.

The USD/CHF currency pair may finally have put in a bottom of what I’m counting as Cycle Wave 3, which started way back in 1985. This could be an yet another piece of the puzzle falling into place, clueing us in to a major trend change underway in the US Dollar. As the turn occurs in the various currency pairs, the new Dollar strength is likely to last for many months. Thanks to my friend in wave counting, Ahmed for the heads up . .

However, beware that, because the MACD just bounced off its lowest point of the entire thrust, and no MACD divergence has revealed itself on the daily chart yet, I’m posting the second chart above as an alternate. Please note though that it is quite common for the MACD-line to make its lowest low at the ending point of a thrust out of a triangle. Therefore, there is a better chance in my opinion that the bottom is finally “in”. Either way, the trend change in Cheffy has either started or is imminent.

Sid
http://elliottwavepre.wpengine.com