{"id":6096,"date":"2024-10-04T18:53:54","date_gmt":"2024-10-04T18:53:54","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=6096"},"modified":"2025-05-13T10:38:25","modified_gmt":"2025-05-13T10:38:25","slug":"usd-chf-steady-downward-path","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/elliott-wave\/usd-chf-steady-downward-path\/","title":{"rendered":"USD\/CHF On A Steady Downward Path? (Elliott Wave)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USD\/CHF\u2019s rally is viewed as a temporary bounce<\/li>\n\n\n\n<li>Wave relationships exist between .8640-.8650 to complete wave 4<\/li>\n\n\n\n<li>Wave 5 would carry USDCHF to below .8375<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How Much Higher Could USD\/CHF Rally?<\/h2>\n\n\n\n<p>Earlier today, a robust US jobs report propelled USD stronger driving USDCHF higher.<\/p>\n\n\n\n<p>Under the current Elliott wave model we are following, the rally in USDCHF may prove temporary.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfDPFkdte_TiyEpEsxSXoIVxFgYTzJGDMLBotQRFUwc9oETKKRr2b_4p03Ap-CNOpMCM4VtRaD02VqoXNM0VbsDNbInYoZd7dV5-sC64Dh45WhmZrEC11LhPn8_jGIIwpJavLDVEZ6szolCGD3KehjmeAI?key=UyJt2mT3zVdS0g91uqLgaQ\" alt=\"\" \/><\/figure>\n\n\n\n<p>Back on August 26, we forecasted:<\/p>\n\n\n\n<p><em>\u201c..we are anticipating USDCHF to continue softening in the coming days, possibly reaching .8350 &#8211; .8422 to finish off a fifth wave.\u201d&nbsp; <\/em><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/usd-chf-melts-like-chocolate\/\"><em>Swiss Franc Elliott Wave: USD\/CHF Melts Like Chocolate<\/em><\/a><\/p>\n\n\n\n<p>Three days later, on Aug 29, USDCHF did dip to .8400, then briefly reversed higher. Then September 6, another retest produced a low of .8375. Both jabs were right within the target zone.<\/p>\n\n\n\n<p><br>Since then, USDCHF has been trading in a sideways range until this morning\u2019s robust jobs report.<\/p>\n\n\n\n<p>Back in August, we forecasted the depth of the rally too. On August 26, we stated:&nbsp;<\/p>\n\n\n\n<p><em>\u201cIf USDCHF does rally, it may carry higher to .8600 &#8211; .8700 and is considered wave 4 already underway.\u201d<\/em><\/p>\n\n\n\n<p>Today\u2019s high reached .8608 so wave 4 is close to terminating (if it hasn\u2019t already).<\/p>\n\n\n\n<p>Allow a little more upside potential to .8640-.8650, partly where the 38.2% Fibonacci retracement of wave 3 sits.<\/p>\n\n\n\n<p><br>A break below .8501 will be deep enough to signal wave 4 is over.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>USDCHF has reached the target zone previously forecasted of .8600-.8700 and is at risk of a bearish reversal.<\/p>\n\n\n\n<p>Once the wave 4 top is registered, then wave 5 would commence to the downside reaching new lows below .8375.<\/p>\n\n\n\n<p><strong><em>You Might Also Be Interested In:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/sp500-slip-bull-wont-trip\/\">SP500 Stocks Slip But Won\u2019t Trip<\/a> (Elliott Wave)<\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/silver-shine-in-the-spotlight\/\">Silver Ready to Shine in the Spotlight<\/a> (Elliott Wave)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CHF nears a bearish reversal as an Elliott wave 4 peak. Potential downside targets below .8375.<\/p>\n","protected":false},"author":160,"featured_media":6097,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-6096","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CHF On A Steady Downward Path? (Elliott Wave) - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"USD\/CHF nears a bearish reversal as an Elliott wave 4 peak. 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