EURCHF

We have a price drop in four hours. In Elliott's theory, the third wave is one of five downward waves that occur after a break. At four o'clock we see a pattern of head and shoulder that reverses the trend and negates and breaks the Nakline and backs up to the Nekline and is ready to fall. The money is back and we are witnessing divergence in the money back area and it is ready to fall. This is an analysis and not a buy or sell signal.