Elliott Wave Analysis: USDCHF & USDCAD Intraday 4/2/2014

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usdchf elliott wave

USDCHF 1h Elliott Wave Analysis

We presented an idea of a leading diagonal on USDCHF few days back, when we also called a three wave rally. So far this is playing out well with current (c) wave at 50/61.8% Fib. levels, ideal reversal zone for the pair. Reversal today during the US session back to 0.8818 will confirm the short-term bearish look and open room for 0.8780, possibly even 0.8760.

USDCAD is reversing back into the middle of 80 pip range after unsuccessful decline beneath 1.1000 level. Market is staying sideways, still consolidating in red wave iv) that can be a triangle, now in final stages. Looking for wave e) limited rally at 1.1045/60 zone. 1.1076 remains critical level.
USDCAD 1h Elliott Wave Analysis

usdcad elliott wave

Written by www.ew-forecast.com | EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). EWP provides a method for identifying price points at which a market is most likely to turn. Knowing the probable swing and reversal points provides confirmation of where investors could enter and exit positions for the highest probability of success.

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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.