24 Mar 2015
USD/CHF could bounce from 0.9400/0.9500 support area – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to give the technical outlook for USD/CHF, expecting the pair to see a bounce to higher levels from 0.9400/0.9500 area.
Key Quotes
“USDCHF is trading back at the levels from January highs so we assume that new swing high could be seen, especially if we consider an impulsive count from January lows. Ideally pair is making wave C) up, of a big three wave move that can stop somewhere around 1.0500.”
“As such, at the moment current downward move can be just a corrective fourth wave that will be looking for a support near 0.9400/0.9500.”
Key Quotes
“USDCHF is trading back at the levels from January highs so we assume that new swing high could be seen, especially if we consider an impulsive count from January lows. Ideally pair is making wave C) up, of a big three wave move that can stop somewhere around 1.0500.”
“As such, at the moment current downward move can be just a corrective fourth wave that will be looking for a support near 0.9400/0.9500.”