This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Thursday, July 31, 2008
July 31, 2008; Swissy Dropping as Planned
The USD/CHF is dropping just as called for. Notice the big bearish engulfing candlestick (circled) forming on the 2hr chart above. Profit target is the 1.0355 area, but it has much further bearish potential.