USD/CHF Eyeing 0.8000 Psychological level.

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Usd/Chf made a nice sell-off in the past week, from 0.8500 region where wave (e) completed a very nice, clean running triangle. We know that triangles unfold just prior to the final move in the larger pattern. Most typical appears in wave four of an impulsive wave and wave B of a zig-zag move (three wave, corrective structure).

Well Usd/Chf is falling for more than a year now, so we are quite confident that this triangle was in wave 4 and not wave B. As such, current sell-off must be wave 5 where five sub-waves will cause a bullish reversal, at least temporary.

Guest post by Gregor Horvat

At the moment, however, we still believe that pair is trading in wave (iv), so wave (v) still in view towards and below 0.8000 psychological level.

USD CHF Technical Analysis Elliott Wave July 18

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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!

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