Elliott Wave Analysis: EURUSD and USDCHF
Elliott Wave Analysis: EURUSD and USDCHF
Markets did not move much since yesterday because of holiday in US, but we expect volatility to come back soon. Technically, market did not change; we still see room for more USD gains in the near future against the majors, such as EUR, GBP, JPY and CHF, while CAD and AUD could do much better.
On EURUSD we are waiting on a third leg of decline, that can send price to 1.1772 support this week while market is below 1.19778, but real invalidation should remain at 1.2069 high. So as long as this price is untouched we expect a weaker EUR.
EURUSD, 1H
USDCHF looks very similar; five-wave from the low that suggests an uptrend continuation after current-a-b-c set-back that seeks a support at current 0.9550 zone.
USDCHF, 1H
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