• 4 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 5 days How To Invest In The Cybersecurity Boom
  • 7 days Investors Are Patient With Unprofitable Giants
  • 9 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 11 days 5 Stocks To Keep A Close Eye On This Year
  • 12 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 13 days Central America Is Ready For The Bitcoin Hustle
  • 15 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 16 days Top Performing Stocks As Inflation Fears Grow
  • 17 days US Airline Stocks Take A Beating On New EU Restrictions
  • 18 days This IPO Could Open Sustainable Fashion Floodgates
  • 19 days Crypto Crime Nets Another $2B Fraudster
  • 21 days This Week’s Hottest Meme Stocks
  • 22 days Why World Markets Should Be Watching Germany Closely
  • 24 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 27 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 28 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 29 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 29 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 31 days China’s Tycoons Are Getting A Serious Reality Check
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