The most compelling pattern in any CHF cross right now is the CHFJPY. There is a very clear Head-and-Shoulders pattern that has been forming for a long time. If we can make a clear break of this neckline there it’s definitely time to sell this pair.
We still don’t have a confirmed base in and I have been expecting this pair to drop a little lower before the final bottom. The bottom does not look very far away especially due to slowing momentum. The lines I have drawn on the chart represent the long term trend line resistance that has held several times and a potential inverse head and shoulder neckline. This chart basically shows that another break of 0.8500 will be very bullish for this pair.
The CAD CHF could be at a bottom right now but it looks more likely that it will fall a little further. This next drop would put us closer to wave equality between wave A and C. Right now wave C is about 70% of the magnitude of wave A. This isn’t all that strange for a turning point but the last several moves do not look like a basing pattern to me.
The pair looks like a long term 3-wave corrective movements. While the CHF looks ready to fall against the USD, JPY and CAD the AUD looks like it has a long way to drop. This move could take the AUDCHF down to 0.6500. That’s where wave C would equal wave A so its a good target to have when you’re this far off.
This pair has been locked in a strong downtrend just like the EURCHF. The momentum on this move has been slowing a lot more however. The count labeled on this chart might be off the mark but I think a top in the CHF could be very near.
The downward momentum on this pair has been very intense the whole way down and it shows no signs of slowing. I have labeled a potential 5-wave count for the downward movement. I currently am not going to trade by this count but it is interesting to try to see if we can have a bottom and reverse substantially higher. A bottom on this pair will likely be pretty sharp instead of a slow bowl like pattern.