Elliott Wave Analysis: EURUSD and USDCHF Update
Elliott Wave Analysis: EURUSD and USDCHF Update
We have seen some USD recovery since last week, but structure looks corrective so we think that dollar may be headed lower soon.
On EURUSD we have seen a perfect downward reaction, almost on tuck from our blue wave v targets, so it’s a contra-trend move now in progress, already in final stages of wave c. A bounce is expected and if euro can climb back above 1.1820 then this should be a very strong indication for more upside.
EURUSD, 1H
USDCHF is trading similar, but in the opposite direction; CHF is expected to be stronger as recovery to 61,.8% looks corrective against previous five wave decline. Invalidation level is located at 0.9836 level.
USDCHF, 1H
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