ew-forecast

Elliott Wave Analysis: USDCHF Trading In A Triangle

FX:USDCHF   U.S. Dollar/Swiss Franc
Triangles are made by five waves where each leg is made by three sub-waves, so we see current turn down on USDCHF             as a temporary move; it can be wave C) that found a support around 0.9530 area, after a completed five wave fall in sub-wave C of (C). Current upward reaction to 0.9640 is sharp so we believe price is headed up into wave D). At the same time we need to keep in mind that triangles are quite complex, slow corrections that may take some time to develop.

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