CHFJPY Head and Shoulders
CHF JPY
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.
USDCHF Long Term Outlook
USD CHF
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.
CAD CHF Long Term Outlook (Weekly Candles)
CAD CHF
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.
AUD CHF Long Term Outlook
AUD CHF
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.
GBP CHF Long Term Outlook
GBP CHF
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.
EUR CHF Long Term Outlook
EUR CHF
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.