Usd/Chf Bullish Bias
Usd/Chf
Overall View: Looking for an up-trend continuation
4 Hour Chart Flows: Mixed. Price Points: 1.0129 and 1.0507. Looking for: Move higher, if 1.0129 holds
Momentum: The pair's trend went Long on 3rd December, and is only just now starting to move towards a short trend from a recent neutral stance.
Elliott Wave: The wave count shwon on the swissy 4h chart signals for Usd strength in the near term, since a Short correction of a black wave B)/II) could already be finished at the 1.0129 support region; around the 61.8% retracement of the black wave A)/I) distance.
Traders will look for a move up towards the 1.0400 region and then also above 1.0507 highs, with a five wave structure in an expected black wave C)/III). Curretnly, the pair is trading in a blue wave i leg, and in the first leg of an impulse bullish structure.
We will make changes to the wave count if 1.0129 support is taken out at any time
Written by TheLFB Trade Team, © 2007-2008 LFB Services, LLC. All rights reserved. http://www.TheLFB-Forex.com
TheLFB Risk Disclaimer can be found at http://www.thelfb-forex.com/content.aspx?id=174.
The Copying, Broadcast, Republication or Redistribution of TheLFB Content is Expressly Prohibited Without the Prior Written Consent of LFB Services, LLC.
|
