Home USDCHF Bears In Progress – Elliott Wave Analysis

USDCHF Bears In Progress – Elliott Wave Analysis

USDCHF successfully moved through the falling trend-line of a corrective channel which is the first indication for a completed wave 4 at 0.9438 and wave 5) underway. We expect an impulsive bearish price action through September’s lows and ideally a move  towards 0.9100 projected fifth wave target.

USD CHF Elliott Wave Analysis October 8 2012
USD CHF Elliott Wave Analysis – Click image to enlarge

In fact, on a weekly chart we can clearly see that the trend has turned bearish after a break through the rising trend-line in the middle of this summer.

As such, we are looking lower and searching for set-ups in a direction of a current trend and sentiment makes sense. We will be on radar for the short set-ups all the way towards 0.8900 support back from February 2012.

USD CHF Elliott Wave Analysis October 8 2012 Next moves
USD CHF Elliott Wave Analysis – Click to enlarge


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!