Elliott Wave Analysis: USDCHF Looks Higher Ahead

By: Gregor Horvat | Fri, Jan 10, 2014
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On USDCHF we have seen a nice reaction to the upside in the last two weeks from around 0.8800 region where market might have completed an ending diagonal pattern that we were tracking it in wave C for a while. We can see current price above the upper trendline of the pattern which suggests higher USDCHF in days maybe even weeks ahead. Break of 0.9250 break would be a final confirmation for completed bear market on USDCHF.

USDCHF Daily Elliott Wave Analysis

USD/CHF Daily Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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