• 747 days Will The ECB Continue To Hike Rates?
  • 748 days Forbes: Aramco Remains Largest Company In The Middle East
  • 749 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,149 days Could Crypto Overtake Traditional Investment?
  • 1,154 days Americans Still Quitting Jobs At Record Pace
  • 1,156 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,159 days Is The Dollar Too Strong?
  • 1,159 days Big Tech Disappoints Investors on Earnings Calls
  • 1,160 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,162 days China Is Quietly Trying To Distance Itself From Russia
  • 1,162 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,166 days Crypto Investors Won Big In 2021
  • 1,166 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,167 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,169 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,170 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,173 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,174 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,174 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,176 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

USDCHF Bullish Reversal Still In View For 2014: Elliott Wave Forecast

USDCHF fell to a new low of the year in February so market remains in bearish mode as long as 0.9080 swing high is not breached; but the question is for how long. We are looking at an ending diagonal in wave C that suggests a coming bullish reversal sometime this year, most likely in the second part of 2014. On the chart we are tracking wave (5) now, final leg in the pattern that will reach new lows and possibly find a support at 0.8500-0.8600 area.

USDCHF Daily Chart


USDCHF Four Hour

USDCHF has turned bearish in first part of April, clearly in impulsive manner before it found a support around 0.9740. We think that rally from that low is corrective, ideally wave 2 that has reatraced back to 0.8825-0.8844 resistance zone as highlighed in our past updates. Market could continue down from that levels so be aware of a downtrend continuation in the next few days. For now critical resistance remains at 0.8951 as wave two must not retrace for more than 100% of wave one.

USDCHF Four Hour Chart

 

Back to homepage

Leave a comment

Leave a comment