USD/CHF anticipates a downswing

August 15, 2016 09:32 AM
Elliott Wave Analysis: USD/CHF

U.S. dollar/Swiss franc (USD/CHF) is slow since price fell to 0.9710 last week, so it appears that market is still making wave B pattern that can be an irregular correction. As such, further weakness down into wave C of E) can be seen to around 0.9680 area, where we will look for signs of a bullish turn.


USD/CHF, 1-hour

About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/