USD/CHF caught our attention with its impressive Complex Corrective Structure for the Cycle Waves (black).
This Complex Structure has been unfolding ever since Aug 2011.
Let’s have a walk-through!
Cycle Wave A (black):
Primary A (green) unfolded with a 5 Wave Sequence, with a Running Flat in Intermediate (4) (blue), paving the way for a Structure in the entire Primary (green) Structure.
Primary B (green) is also showing a Structure in its Intermediate (pink) Sub-Waves.
Primary C also unfolded with a 5 Wave Sequence, confirming the in the entire Primary (green) structure and finalizing Cycle Wave A (black).
Corrective Cycle Wave B (black):
The only remark here would be that this Corrective Wave had a Sharp Move cause by the Swiss National Bank’s (SNB) shock decision in Jan 2015 to abandon the cap on the currency’s value against the EUR and also cut the Interest Rates from -0.25% towards -0.75%, raising the bar for the amounts Investors pay to hold Swiss Deposits.
This was a day which will be remembered, many things happened then and multiple knock-outs took place.
Cycle Wave C (black):
Within this Wave, Primary A (green) retraced almost immediately after the unexpected U-Turn with the CHF.
Primary B (green) unfolded as an labeled on out Chart as the Intermediate ABCDE (pink).
The appears to be complete, with a Final Move needed for Intermediate (E) to be complete, thus completing the Entire Structure.
Primary C (green) should begin its Cycle with 5 impressive Impulses towards the up-side.
These are exciting times for the USD/CHF as the entire Corrective Structure seems to be complete, with all pieces of the puzzle fitting nicely.
We are interested to see how this USD/CHF – BUY Set-Up would unfold as we see massive potential within.
We are closely watching the lower of the and looking for signs of Support Confirmations.
USD/CHF – Primary Wave C – Medium-Long Term BUY Positions:
Entry Level – 0.96500
SL – 0.94000 & 0.90000
TP – 1.06000 & 1.22000
- When in the green, move SL to beak-even or in profit.
- Watch for Support signs on the Lower .
Stay in the green and many pips ahead!
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This analysis is for a possible LONG on USD/CHF.
DXY would turn to the up-side in my view and that would make EUR/USD Bearish...