The broad base dollar strength across the board has manage to change the bearish sentiment on this pair and since beginning of this summer USD/CHF has been trading in an steady bullish trend. Based on Elliott Wave count (see Figure 1) we still have much to go to the upside before to complete a five wave sequence. We have just completed wave III and wave IV is ready to develop a corrective phase before another upward leg to take place and complete the five wave sequence.
Figure 1. US
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