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USDCHF: Sideways Within Uptrend; Be Aware Of a Break

USD/CHF is trading in a slow, choppy and sideways manner during the last few days. This is a personality of a corrective price action.

Therefore, we think that Dollar/Swiss  is trapped in a wave four position, which could be forming a triangle in the 0.9580-0.9760 range.

If that’s the case then the pair will stay in sideways trading for another day or two and then break sharply higher, into wave 5) that could lift the pair to the 0.9830/0.9860 region based on our Fibonacci projected levels.

USD CHF Elliott Wave Analysis Technical trading for forex currencies

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!