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Minors, USD/CHF Forecast

USDCHF at a turning point – Elliott Wave Analysis

In the last couple of weeks we have been tracking two scenarios for USDCHF, a bearish impulse and a corrective decline from 0.9036. Well, last week we finally got some price action that we can work with.

The pair recovered in an impulsive manner from 0.8854 which suggests that the previous bearish retracement was just a correction in three legs with a triangle in wave B. With that said, we think that the market will continue higher, probably back to June’s highs, once a downward channel is taken out. A rally aback above 0.8940 will be a sign of a completed wave (ii).

USDCHF 4h Elliott Wave Analysis

usdchf 4h Elliott Wave analysis July 11 2014 dollar swiss franc

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!