FX.co ★ USD/CHF, Wave analysis for December 21. (Daily Strategy)

USD/CHF

In the daily graph we can see Elliot's wave cycle, which had just completed the fourth corrective wave that marks the beginning of the fifth,declining wave. Since the first wave is equal in length to the third, the fifth wave is expected to be the longest. Thus, we should expect a wave of downwards movement that will lead the pair beyond the major support level of 0.9350 Swiss Francs for one United States dollar.