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USD could continue advancing against EUR and CHF –

The USD is up against the majors today and it looks like the currency could hit a new high against the EUR and CHF today. On the EURUSD we can see a nice reversal down from around 1.3430 that suggests a completed wave (iv) and it is now aiming for lower levels within the current wave (v) that may even reach 1.3300 by the end of the week.

EURUSD Elliott Wave Analysis August 12 2014 currency technical outlook
EURUSD 1h Elliott Wave Analysis

USDCHF is also looking bullish, now trying to take out the trendline connected from the highs. A rally from the lows also has an impulsive structure so it should be part of an uptrend, therefore we think that low of wave (iv) is already in place at 0.9030. We will update EPO soon.

USDCHF Elliott Wave Analysis August 12 2014 currency technical outlook
USDCHF 1h Elliott Wave Analysis

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!