Elliott Wave Analysis: Silver and USDCHF

By: Gregor Horvat | Mon, Mar 6, 2017
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SILVER

Silver is turning south after that aggressive decline last week from 18.45, which is acting like an impulse, so we think its wave A that belongs to a larger three wave decline. We think that this will be just a new correction of a higher degree labeled as wave II which may look for a bottom later this week near 17.00-17.20.

Silver, 1H

Silver 1-Hour Chart


USDCHF

USDCHF moved slightly above 1.0140 level last week before it turned lower for a three-wave pullback in wave ii which can be near completion. We see a flat correction that can lift prices strongly into wave iii while market is above 1.0009 low.

USDCHF, 4H

USD/CHF 4-Hour Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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