Home USDCHF Is Looking Bearish Towards 0.9300 Against 0.9566 (Elliott
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USDCHF Is Looking Bearish Towards 0.9300 Against 0.9566 (Elliott

USDCHF reversed sharply lower in the past week from the 0.9566 peak and also closed on a daily and weekly basis beneath the 0.9430 swing.USDCHF Elliott Wave Analysis March 19 2013

In fact, the move from 0.9566 was very sharp so we believe it’s only the first leg of a minimum three-wave decline, labeled as A)-B)-C).

Ideally pair is now in wave B) with resistance seen around 0.9500. A breakdown into wave C) towards 0.9340 is expected as long as 0.9566 is in place.

Current Trend/Sentiment

Directional Bias

Strategy

Sideways

 Directional Bias Down 03/18 We favour shorts as long as 0.9566 critical level holds.

 

 

 

 

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Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!