Elliott Wave Analysis: USDCHF & USDCAD Intraday


Same as EUR, CHF is also recovering against the USD after a completed five wave cycle at 0.8949. For now decline is still in three legs and still not finished, so it’s hard to confirm and further moves from here. However, if fall will unfold in five waves back to 0.8840 then this will be bearish signal. On the other side of a coin, we will turn bullish, for new high if 0.8922 is breached.
USDCHF 1h Elliott Wave Analysis
usdchf elliott wave
USDCAD broke to the downside on Friday from a triangle and touched 1.0950/70 projected levels where fib. support levels may cause a new turning point. This time to the upside for a bigger corrective rally if we consider that leg from 1.0130 is fifth wave, final leg within wave (a).
USDCAD 1h Elliott Wave Analysisusdcad elliott 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.