• 8 hours Bezos Is Heading To Space This Sunday
  • 3 days El Salvador’s Surprise Bitcoin Move
  • 6 days Markets Unfazed As Inflation Hits 13-Year High
  • 7 days How the Token Economy is Disrupting Financial Markets
  • 9 days FBI Investigating 100 Types Of Ransomware Attacks
  • 11 days Fed Ends Corporate Credit Emergency Lending Program
  • 13 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 15 days The Real Reason Your 401k Has Been Lagging
  • 15 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 17 days The Market Is Ripe For Another GameStop Saga
  • 20 days Senate Grills Big Banks Over Pandemic Opportunism
  • 22 days Cannabis Has A Major Cash Problem
  • 22 days Ransomware Netted Criminals $350M In 2020 Alone
  • 23 days Russia Is Taking On Google
  • 24 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 25 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 27 days Inflation Is Coming. Are You Prepared?
  • 28 days Travel Might Get Another Supersonic Disruption
  • 29 days The World Is Running Out Of 6 Key Resources
  • 30 days $15/Hour Minimum Wage Might Happen Naturally
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…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDCHF And GBPUSD

USDCHF

Finally, USDCHF has turned sharply to the downside in the last few days, clearly in impulsive price action that can cause even more weakness in the next few days. We are looking to lower levels in wave C of a black wave 4 that can even look for 0.9780 once again where we would expect to see a bottom formation of a big corrective wave four that is unfolding since November 2015.

USDCHF, 4H

USDCHF 4-Hour Chart


GBPUSD

GBPUSD fell strongly in January after the price took out 1.4560 level from where we have seen a decline into our Fibonacci support levels near 1.400. Notice that fall was extended, so it must be impulsive as part of a much bigger bearish cycle. However, market never moves in straight lines so we need to be aware of a corrective price actions. Well, we have seen a nice bounce in the last two weeks to 1.4700 that we see it as wave four within ongoing bearish trend. That said, traders must be aware of a new turn down in days ahead, for wave 5 of III.

GBPUSD, Daily

GBPUSD Daily 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