Elliott Wave Analysis: EURUSD and USDCHF Update 

intraday usdchf

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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 elliott wave

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.


intraday usdchf


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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