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Usd/Chf spiked higher on Friday and now we have five waves up from 0.8920 lows, which means that from an Elliott Wave perspective trend has changed from bearish to bullish, because impulsive structure always shows direction of a temporary trend. With this being said, we are expecting higher levels to be seen within larger three wave move, which is likely a wave (2) labelled on the chart.

However, before we may see higher levels on Usd/Chf, wave B) needs to be seen, which is unfolding now and may fall down to 0.9120 in the near future.

USD CHF Elliott Wave Analysis April 4

Guest post by Gregor Horvat

Swiss franc seems to be one of the weakest currencies for the past two weeks or so, and the reason is probably the rising stock market, which reversed on the same day as the US stocks found the support, as shown on the overlay chart below.

CHF S&P Overlay

We see higher levels on the S&P targeting 1400, which supports the Usd/Chf.

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