USD/CHF Detailed Technical Elliott Wave Analysis

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Usd/Chf recovered in five waves since August, after a very clear breakout to the upside, out of a downtrend channel, which is the most important evidence of a change in trend; from bearish to bullish.

As such, we are very confident that significant low is in place and that Usd/Chf will move even higher in coming months, towards parity. But before larger uptrend will continue, we will likely see a deeper pull-back as first impulsive leg wave I appears complete around 0.9310..
Daily chart

USD CHF Elliott Wave Analysis Daily Chart October 25 2011
Guest post by Gregor Horvat

4h chart

USD CHF Elliott Wave Analysis 4 Hour Chart October 25 2011

On the 4h chart below, we can see that Usd/Chf collapsed lower at the end of the past week, through the wave A support. As such, we suspect that wave B is complete around 0.9080 and that wave C is headed lower, ideally into 0.8640 zone, where also wave C equals to wave A. You may have also noticed a head and shoulders pattern, which signals for more bears ahead, after a break through the neckline.

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About Author

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!

2 Comments

  1. Pingback: USD/CHF Detailed Technical Elliott Wave Analysis | Forex Market Trends

  2. Hi,

    I’ve got one question to you.
    Would you share with me yours MACD indicator with two Moving Avareges lines( USD/CHF 4h chart).

    Regards. Erik
    [email protected]