Swiss Franc Technical Outlook

Published August 5th, 2008 - 06:01 GMT
Al Bawaba
Al Bawaba


From 1.0010, 5 waves appear to be nearing completion.  The bigger picture count calls for a rally to the 1.10 area (Fibonacci extension level at 1.0986 and former 4th wave congestion is near 1.10).  Ideally, a corrective setback begins soon and brings price back near 1.03.  At that point, a bullish bias would be warranted against 1.0010.