USDCHF is in a big pullback since the end of 2015, we see it as a corrective and temporary decline. Notice that the falling price action is overlapping which is evidence of a contra-trend movement. We suspect that the downtrend is limited, especially after we identified an ending diagonal in wave C-circled, the final leg of a big wave IV is evidence of a low in place following a recent bounce from 0.9440 area. Ideally, market is now at the early stages of a new bullish cycle; three waves up for wave V. USDCHF, Daily On the lower time frames, as said USDCHF made a very strong turning point last week from 0.9442 zone, where we see that the pair made a low, which means it completed wave 5) of an ending diagonal place in wave C-circled which is fully visible on the above chart. The reason for a low in place is an impulsive rally from the low; that’s a five wave pattern that confirms a change in trend from bearish now to bullish mode. Also, notice that the price is above the red trend line from where we may see a push up to 0.9794 and even higher after red wave 2) retracement. USDCHF, 4H 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! View All Post By Gregor Horvat Daily Look share Read Next GBP, NZD in focus amid ongoing yen weakness Yohay Elam 6 years USDCHF is in a big pullback since the end of 2015, we see it as a corrective and temporary decline. Notice that the falling price action is overlapping which is evidence of a contra-trend movement. We suspect that the downtrend is limited, especially after we identified an ending diagonal in wave C-circled, the final leg of a big wave IV is evidence of a low in place following a recent bounce from 0.9440 area. Ideally, market is now at the early stages of a new bullish cycle; three waves up for wave V. USDCHF, Daily On the lower time frames,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
