Elliott Wave Analysis: USDCHF Showing Signs Of A Completed Correction; More Upside In View


USDCHF was in a strong uptrend in the last few months of 2016, so recent sideways price move since mid-December was just another correction or pause within uptrend. We saw it as wave 4) that has unfolded as a complex correction, with sub-wave C being an ending diagonal. As such, recent turn up from January 31 low can be start of a new uptrend. If we are on the right side, then be aware of a next strong reaction higher, ideally into a third wave.

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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.