USD/CHF Eyeing New Lows

Usd/Chf moved lower in recent hours, actually since the Consumer Price Index numbers came out +0.4% as Swiss Statistics reported. The pair lost almost 100 pips from recent 0.9370 highs.

In fact, this move lower appears to be only a start of an impulsive decline headed towards the previous lows.

Guest post by Gregor Horvat

You will notice that previous upward structure was made in three legs, and in Elliott wave Theory only corrective waves are structured by three sub-waves, labelled as an (a)-(b)-(c) on our chart.

We know that correction occurs against the larger trend and as such pair should hit levels around 0.9150 in coming sessions.

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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!

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