ew-forecast.com's  Instablog

Send Message
We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
My company:
  • USDCHF: Corrective Pull-Back Within Uptrend-Elliott Wave Forecast 0 comments
    May 16, 2013 10:16 AM

    USDCHF reversed lower yesterday from around 0.9750 which however is not a surprise if we respect the structure from 0.9242 which was clearly made in five waves, and we know that after every five waves correction follows. As such, we think that pull-back from the top is temporary, but we still need three wave retracement before we can turn bullish again. Ideally pair is now in wave 2 which will find a support somewhere in the area of a wave four of one lesser degree, near 38.2% Fibonacci zone.
    (click to enlarge)

    Don't miss out, Special offer for new members

    For more analysis visit us at http://www.ew-forecast.com/

Back To ew-forecast.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.