Usd/Chf Down to 0.75

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Usd/Chf extended its losses in the past week as expected and reached new all-time lows just above 161.8% Fibonacci extension target for wave 3. Not sure if wave 3 is done or not, but long-term speaking we remain very bearish on that pair, and any bounce from the lows will be only temporary and corrective, likely a black wave 4 before now sell-off occurs.

Bellow is the chart that our readers received on July 30th 2011, with a note that pair is headed towards 0.75.

Source: http://www.fxstreet.com/technical/forex-strategy/elliot-wave-corner/2011-08-06.html

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