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Swiss Elliott Cycle Complete-Doji Warns of Reversal

Swiss Elliott Cycle Complete-Doji Warns of Reversal

2012-02-09 23:39:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Elliott Cycle Complete-Doji Warns of Reversal

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

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