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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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  • USDCHF Price At The Bullish Reversal Zone-Elliott Wave Forecast 0 comments
    Nov 19, 2013 7:56 AM

    USDCHF moved even lower yesterday and is now testing the support area from previous fourth wave. Usually this region reacts as a reversal zone, which in our case means that USDCHF could turn higher. The reason is also a very slow three wave retracement from 0.9248 that represents a corrective price action that could stop at current levels. An impulsive rally up to 0.9200 will be a strong evidence that pair has bottomed.

    USDCHF 4h Elliott Wave

    (click to enlarge)

    Written by www.ew-forecast.com

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