USDCHF Could Provide Long Opportunity - Elliott Wave
USDCHF is at 0.9060 again, which means that decline from 0.9248 is much more complex than we firstly thought, but it's still has a shape of a corrective price action. We are tracking W)-X)-Y) now in wave (2) that could be near completion as pair approaches 0.9030 level where we see a lower side of a corrective channel and also a 61.8% retracement area.
USDCHF 4h Elliott Wave Analysis
On Intraday Chart USDCHF is at new lows, probably in wave C) that is a final leg in a second zigzag of a complex corrective decline from Nov 07th. Nice technical support for this pair comes in at 0.9000-0.9050 from where we could see an impulsive reaction higher. If so, then long opportunities should be interesting. If you are aggressive trader, then you probably will be considering to go in with limits around 0.9.
USDCHF Intraday Elliott Wave Analysis
Written by www.ew-forecast.com