• 10 hours Can Twitter Sway Economic Policy?
  • 13 hours Widespread Power Outages Hit New York City
  • 16 hours Equifax To Pay $700 Million To Settle Data Breach Case
  • 18 hours Netflix Struggles To Rebound After Subscriber Hit
  • 2 days $15,000 For Your Crypto’s Ticket To Visibility
  • 3 days The Next Fashion Frontier
  • 4 days What Is Africa’s Role In The New Silk Road?
  • 4 days Trump Was Right About The Dollar
  • 5 days Is Silver Gearing Up For A Rally?
  • 5 days World’s Largest Hedge Fund Turns Bullish On Gold
  • 5 days It’s Time To Spend More On Clean Energy R&D
  • 5 days Contrarian Investors Are Beating The Stock Market
  • 6 days Bulgaria’s Revenue Agency Falls Victim To Biggest Cyber Heist In History
  • 6 days Amazon Faces European Union Anti-Trust Probe
  • 6 days Commodities Are Having A Stellar Year
  • 6 days Bezos’ Next Big Project Could Be Worth $100 Billion Per Year
  • 7 days 3,600 Years Later, Climate Change Turns Mammoths Into $40M Market
  • 7 days Tesla, Apple Claim China Is Stealing Intellectual Property
  • 7 days EV Giants Duke It Out For Battery Dominance
  • 7 days Tech Billionaire Takes Aim At Google
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On EURUSD And USDCHF

EURUSD

EURUSD fell to a new low this week as expected, into wave 5 of 3) which moved very close to 1.0600. This price can still be retested in sessions ahead, but we need to keep in mind that red wave 3) is in late stages and that market will make a new corrective retracement. Ideally wave 4) will bounce in three waves back to around 1.0800 from where downtrend may continue. Invalidation level is at 1.0897 because wave 4) must not trade into a territory of a wave 1).

EURUSD, 4H

EURUSD 4-Hour Elliott Wave Chart

USDCHF

USDCHF was in pullback last week from where we have seen a continuation back to the highs. We see pair now reaching levels above 1.0200 with five subwaves up from 0.9838. We know that after every five waves new correction occurs, so ideally wave III is now near completion which means that market can make a three wave set-back down in wave IV, close to 1.0085 from were we would look for a new turn to the upside.

USDCHF, 4H

USDCHF 4-Hour Elliott Wave Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment