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USD Regaining Its Strength- Looking At USD/CAD & USD/CHF

USDCAD is recovering after five waves of decline, labeled as wave C), so more gains could follow if we consider that the contra-trend move from the end of May can be near completion. For now, rally is not in five waves yet, but the recovery and daily close above 1.2400 would definitely be bullish for this pair.

USDCAD 1h Elliott Wave Analysis

USDCAD Elliott Wave Analysis June 11 2015 technical chart

On USDCHF we see a three wave set-back that may have ended now after the recent rally through wave (iv) swing high which opens the door for higher levels. Ideally the market will revisit 0.9500 in the sessions ahead.

USDCHF 1h Elliott Wave Analysis

 

USDCHF Elliott Wave Analysis June 11 2015 technical chart

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!