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:
  • Elliott Wave Forecast For EURUSD And USDCHF 0 comments
    Sep 24, 2013 5:03 AM

    The market has been very slow for the last few sessions, so we suspect that pairs are trapped in corrective price action that will send USD lower in the near-term, particularly against the EUR, GBP and CHF, while commodity currencies such as AUD and CAD could stay under pressure or maybe sideways while metals, oil and other commodities are weakening.

    Our focus is still on EURUSD where we see a three wave move from the top which we think its corrective wave (iv) that already tested 38.2% retracement area so uptrend could resume soon up in wave v).

    EURUSD 1h

    (click to enlarge)
    USDCHF is also slow and sideways in 45 pip range which its personality of a corrective price action. As such, pause around 0.9100 area is most likely just another correction within a downtrend. We believe its wave iv) which will send prices down in wave v) towards 0.9050 in this week. The only question is from where weakness will resume; from current prices or from 0.9160 where it's a 38.2% retracement area.

    USDCHF 1h

    (click to enlarge)

    Written by www.ew-forecast.com | Try EW-Forecast.com's Services Free For 7 Days at http://www.ew-forecast.com/service

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


  • EURAUD is turning up strongly... price now 200 pips away from our highlighted support area! >>> http://goo.gl/P9yyzz
    Sep 9, 2016
  • USDCHF: Before Brexit happened and today! Just listen the price action. https://t.co/M9drn1oKNw
    Jun 24, 2016
  • Regarding ‪#‎GBPUSD‬.. technicals suggests limited upside http://goo.gl/qErM25
    Jun 23, 2016
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.