Sat, Jan 28, 2023 @ 17:36 GMT
HomeContributorsTechnical AnalysisElliott Wave View: USDCHF Completing 5 Waves Impulse

Elliott Wave View: USDCHF Completing 5 Waves Impulse

Short term Elliott Wave View in $USDCHF suggests that the decline from 10.21.2022 high is in progress as 5 waves impulse Elliott Wave structure. Down from 10.21.2022 high, wave 1 ended at 0.9841 and rally in wave 2 ended at 1.0147. Pair then resumed lower in wave 3 towards 0.935 and rally in wave 4 ended at 0.9598.

Wave 5 lower is in progress with internal subdivision as an impulse in lesser degree. Down from wave 4, wave (i) ended at 0.9484 and rally in wave (ii) ended at 0.9533. Pair resumed lower in wave (iii) towards 0.9409, wave (iv) ended at 0.943, and wave (v) of ((i)) ended at 0.938. USDCHF then corrected in wave ((ii)) which ended at 0.9547. Pair resumed lower in wave ((iii)) with subdivision as another impulse. Down from wave ((ii)), wave (i) ended at 0.9465 and wave (ii) ended at 0.954. Pair then resumed lower in wave (iii) towards 0.933, wave (iv) ended at 0.937, and wave (v) of ((iii)) ended at 0.932. Wave ((iv)) is in progress as a zigzag where wave (a) ended at 0.944 and pullback in wave (b) ended at 0.9325. Expect wave (c) of ((iv)) to complete at 0.944 – 0.952 area before pair resumes lower.

USDCHF 60 Minutes Elliott Wave Chart

Elliott Wave Forecast
Elliott Wave Forecasthttps://elliottwave-forecast.com
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Featured Analysis

Learn Forex Trading