Swiss Elliott Cycle Complete-Doji Warns of Reversal

60 Minute Bars

Prepared by Jamie Saettele, CMT

“Expectations are for the USDCHF decline from the 2/6 high to complete 5 waves down. So far, there are only 3 waves down from 9263…the next level of interest on the downside is 9065.” The USDCHF fell to a new low in order to satisfy 5 waves from the 2/6 high. It is also possible that 5 waves are complete from the January high. The move off of the low should give us a better idea regarding the next larger move.

Bottom Line – flat