It looks like someone linked you here to our printer friendly page. Please make sure you go Back to Safehaven.com for more great articles just like this one!
USDCHF Bottoms At Fibonacci Reversal Point: Elliott Wave Analysis
USDCHF is testing 0.9060 where a three wave decline from 0.9248 may complete a contratrend move in the near term. As we can see price is contracting at the end, testing lower side of a trading channel as well as 61.8% retracement area that is very common Fibonacci reversal point. With that in mind, impulsive rally may follow soon. Break of 0.9130 would confirm a continuation higher.
USDCHF 4h Elliott Wave Analysis
On Intraday chart Last week We mentioned that if we have a deal with ending diagonal on USDCHF then price must not go beneath 0.9000 level, otherwise wave 3 would be the shortest and count invalid. Well, we have seen a recent bounce from 0.9020; in three legs for now, but broken trend line of a wedge pattern and current push above 0.9090 swing is an early signal that low has been formed. Still need to wait on a daily close price and completed five wave rise on this hourly chart, but this is becoming very interesting.
USDCHF 1h Ellitot Wave Analysis
Written by www.ew-forecast.com