Home USD Moves Higher, Looking At EURUSD & USDCHF – Elliott

USD Moves Higher, Looking At EURUSD & USDCHF – Elliott

EURUSD fell yesterday through the channel support line which gives momentum for a bearish price action of wave 3. The ideal projected zone for this leg is around 1.0720-1.0745 where the pair may find some support in the coming sessions. For traders that are interested in shorts, we suggest to wait on a wave 4 bounce.

EURUSD 1h Elliott Wave Analysis

EURUSD technical Elliott Wave Analysis August 5 2015 forex


USD is also trading impulsively against the Swiss franc. On the hourly chart we see the pair in wave three of three so market will likely reach higher levels. An extended red wave iii) has a target of 161.8% Fibo at 0.9860, so we will continue to look towards this level after a corrective black wave iv retracement that will be on our radar screen for long entries.

USDCHF 1h Elliott Wave Analysis

USDCHF technical Elliott Wave Analysis August 5 2015 forex

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!