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3 Apr 2015
USD/CHF to make a new high – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to predict that USD/CHF might make a new high after finding support on correction near 0.9400.
Key Quotes
"USDCHF has recently move up to the levels from January highs so we assume that new swing high could be seen, especially if we consider ongoing impulsive count from January lows. Ideally pair is making a big wave C) up on weekly chart that can stop somewhere around 1.0500.”
“As such, at the moment current downward move can be a corrective fourth wave that will be looking for a base near 0.9400.”
“An impulse up from that region will put new highs in play, but for now we see that latest minor rally was made in three waves, so it's probably wave B) as part of a second zigzag.”
Key Quotes
"USDCHF has recently move up to the levels from January highs so we assume that new swing high could be seen, especially if we consider ongoing impulsive count from January lows. Ideally pair is making a big wave C) up on weekly chart that can stop somewhere around 1.0500.”
“As such, at the moment current downward move can be a corrective fourth wave that will be looking for a base near 0.9400.”
“An impulse up from that region will put new highs in play, but for now we see that latest minor rally was made in three waves, so it's probably wave B) as part of a second zigzag.”