Elliott Wave Analysis: USDCHF Looking Lower

Good day traders! Let’s look at USDCHF.

USDCHF made a new drop lower, which we now see it as start of a new potential five-wave cycle. If so, then we see the previous three-wave correction at the 0.9771 level as completed and current drop as blue wave one of an upcoming five-wave bearish move.

USDCHF, 1H