"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 4 hours Gold: The Religion Of Currency
  • 1 day Economists Polarized On Trump’s Tariff Plan
  • 2 days Why Are Investors Overlooking Gold Stocks?
  • 2 days The App That Democratized Trading Is Now Worth $5B
  • 2 days Super-Cycles: Why Gold Is Set For A Breakout
  • 2 days U.S. Sanctions Russia For Election Meddling And Cyberattacks
  • 2 days Snap Shares Tank Over ‘Slap Rihanna’ Campaign
  • 2 days How Low Can Bitcoin Go?
  • 2 days Amazon’s Japan HQ Raided In Anti-Monopoly Push
  • 3 days Is Barrick Gold Close To Finding A Bottom?
  • 3 days Morgan Stanley’s Top 10 Short-Term Stock Picks
  • 3 days China: The Land Of The Ultra-Rich
  • 3 days Alibaba Soars On Reports Of China Listing
  • 3 days What Killed Toys ‘R’ Us?
  • 3 days SEC And IRS Take An Aggressive Stance On Cryptocurrencies
  • 3 days Bears And Bulls Face Off In Gold Markets
  • 3 days Bitcoin Is Winning Over The Housing Market
  • 4 days Markets Slide Sideways As Trade War Fears Linger
  • 4 days Why Aren’t Millennials Investing?
  • 4 days Bitcoin And Banking: The Next Mobile Payment Revolution
The App That Democratized Trading Is Now Worth $5B

The App That Democratized Trading Is Now Worth $5B

Investors and customers have rallied…

Gregor Horvat

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…

More Info

Elliott Wave Analysis On EURUSD And USDCHF


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 4-Hour Elliott Wave Chart


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 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

Sign Up For The Safehaven Newsletter