Elliott Wave Analysis: USDCHF In A Possible Flat Correction


USDCHF is trading outside of an upward channel which means that corrective wave B can be finished at 0.9900 area that belongs to a flat correction. In a flat you we will see that wave C will usually retrace back to the area of wave A which in our case comes in at 0.9765, so we would not be surprised to see this level tested before big uptrend resumes.

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1h usdchf july 22 2016

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.