USD/CHF Ready To Break Below 0.9200-Elliott Wave Update

Since the last update (published here), Usd/Chf moved into a range for a few days, before pair reversed back down 0.9200 support, which was tested this morning. Looking at the upadted chart, we can see a nice clear triangle completed around 0.9350 region.

Guest post by Gregor Horvat

We know that triangles unfold just prior to the final move in the larger pattern and as such, pair must be trading in wave 5 now, which however appears incomplete as we need five sub-waves within this leg. With lower stocks, traders are looking for safe haven investments, which as we know are both, US dollar and Swiss franc. After-all we favor a stronger Swiss because of much better employment situation in Switzerland compared to the US. Unemployment in Switzerland is 3.4% while its almost 9% in the States.

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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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