$USDCHF Analysis using NEW Elliott Wave Theory 5.21.2014

Using the new Elliott Wave Theory, we will take a look at the USDCHF and try to forecast what the price should do next after reaching the area of equal legs at 0.8958. Unlike the traditional Elliott Wave Theory, we believe that the move off the 0.8698 low is a series of 3 waves and not an impulsive sequence and hence after the completion the pair should move into the direction of the prevailing trend which is lower. So our view remains to sell the end of this rally which can reach as high as 0.9019 (1.236 ext ) – 0.9032 ( C = A)

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