• 53 days Could Crypto Overtake Traditional Investment?
  • 58 days Americans Still Quitting Jobs At Record Pace
  • 60 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 63 days Is The Dollar Too Strong?
  • 63 days Big Tech Disappoints Investors on Earnings Calls
  • 64 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 66 days China Is Quietly Trying To Distance Itself From Russia
  • 66 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 70 days Crypto Investors Won Big In 2021
  • 70 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 71 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 73 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 74 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 77 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 78 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 78 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 80 days Are NFTs About To Take Over Gaming?
  • 81 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 84 days What’s Causing Inflation In The United States?
  • 85 days Intel Joins Russian Exodus as Chip Shortage Digs In
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  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