Elliott Wave Analysis On AUDNZD And USDCHF

By: Gregor Horvat | Thu, Jul 28, 2016
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AUDNZD

We have been tracking a potential reversal on AUDNZD and this looks to have happened so far. We have seen a nice impulse wave up in five waves, labeled as wave 1 and a corrective pullback which could be wave 2, possibly in final stages. We believe more upside could follow, but only after the upper corrective channel line is crossed.

AUDNZD, 1H

AUD/NZD 1-Hour Chart

USDCHF

Let's look at the USDCHF. The USDCHF seems to be unfolding as an expanded flat 3-3-5 pattern in the corrective pullback in wave 2) with still some room for lower levels. Support could be around 0.9700 area where we will look for signs of a reversal and wave 2) lows.

USDCHF, 1H

USD/CHF 1-Hour Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, 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 www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple 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.

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