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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
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  • Elliott Wave Analysis: Tracking USD Long Set-Ups While EUR Is Below 1.3450 And USDCHF Above 0.9145 0 comments
    Aug 26, 2013 5:26 AM | about stocks: USD

    We can see some USD strength at the start of this European morning coming back into the market which has been expected based on the latest intraday price action. We were looking for a three wave move down on USDCHF with our members, and so far we can see that pair found a bottom nicely around 0.9190 from where we can see some encouraging upside reaction. Looks like we could be heading back to 0.9290, and possibly 0.9330 this week.

    If you are interested in our analysis then you can try us absolutely FREE FOR 7 DAYS!

    Visit http://www.ew-forecast.com/service/ for more details

    USDCHF 1h

    (click to enlarge)

    EURUSD also now reversing from our »do or die« level placed at 1.3400, but still need a channel break and impulsive structure (five waves down) from above 1.3400 to make sure we are going lower.

    EURUSD 1h

    (click to enlarge)

    For now we are sitting on our hands, no official trades, but we are watching USDCHF, EURUSD and AUDUSD very closely for possible USD long set-ups. But at the moment however, I think it's too soon for trades, it's still only Monday and also holiday in the UK, so I believe it's better to wait on more price action and see it then if USD rally has already began or no, and then go with the flow.

    If you are interested in our analysis then you can try us absolutely FREE FOR 7 DAYS!

    Visit http://www.ew-forecast.com/service/ for more details

    Themes: USD, Euro, Chf, EURUSD, USDCHF, DXY Stocks: USD
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