Elliott Wave Analysis On USDCHF And S&P500
USDCHF
USDCHF is now trading higher with a third leg of recovery which can be even red wave 3) if we consider wave count on a larger time frame. However, as always we need to focus on minimum expectations which in our case means rise to the upper side of a trading channel, where we also see 161.8% Fibonacci extension target of wave 1) measured from wave 2) low.
USDCHF, 4H
Click to Enlarge
S&P500
E-mini S&P500 hit new highs recently around 2100 as expected where black wave 5 of 5) sent prices lower in recent sessions. We have seen a decline for more than 20 points in the last 24 hours which looks like a start of a new three waves of a pullback; ideally back to around 2020 after a successful break below the trendline support.
S&P500, 4H
Click to Enlarge
http://www.ew-forecast.com/service
Find more: Contributing Authors
Related Posts
Elliott Wave Analysis: S&P500 Could Continue Its Bullish Run; Sub-wave 2) In The Making
Elliott Wave Analysis On EURAUD And USDCHF
Elliott Wave Analysis: S&P500 Nicely Trading Higher Within An Ending Diagonal
Elliott Wave Analysis On Crude OIL And S&P500
GBPUSD: Big Corrective Bounce May Be Over; 1.3300/1.3500 Could Be In The Cards This Year
