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Elliott Wave USDCHF 1 Hour Chart
Tuesday, 31 February 2012
Looks like USD is also ready to recover even more against the Swiss Franc after a slow, but still impulsive rise from 0.9113 low which appears to be wave (a). Only first leg of a three wave pull-back, which is the minimum structure of corrections.
Wave (a) may be near completion but still enough room for a potential push close to 0.9230 resistance before wave (b) pulls lower.
4Hour
Elliott Wave USDCHF 4 Hour Chart
Tuesday, 31 January 2012 at 5:50:00PM AEST
-wave A)/1) searching for a support
Elliott Wave USDCHF fell well below 0.9240 support in the past few days, so wave A)/1) is obviously still underway. But our views however did not change, we will still be on the watch for a completed wave A)/1) in the near future and bullish reversal signs. So only a break through the falling resistance line will suggest that wave B)/2) is underway. For now trend is still down, while 0.9339 holds.
Daily
Elliott Wave USDCHF Daily
29 January 2012
-wave II flat
Elliott Wave USDCHF reversed lower as expected in recent weeks, and is now accelerating lower after a break of the lower support channel line of a (B) wave. As such, we believe that wave (C) is now in progress which will be looking for a test of a wave (A) extreme around 0.8560 in weeks ahead. After that we will look for a potential bottom of a wave II flat formation!
Weekly
Elliott Wave USDCHF Weekly
28 August 2011
-significant low in place!?
Elliott Wave USDCHF made a very sharp reversal in this month from 0.7067 region, where we suspect that bottom-at least temporary has been reached. The first reason is of course the wave structure, which is impulsive on the lower time frame, and the next quite important evidence for a complete bearish cycle from 1.1733 is a very high volume that was seen when prices fell into a new all-time low, just before they bounced higher.
We also need to consider that there was a triangle placed in wave IV) as shown on the chart. Well, in Elliott Wave theory triangle occurs just prior to the final move of the larger pattern, so from that perspective, we know that leg from 1.1733 was a wave five. With this being said, pair may reach much higher levels in coming months if not years!
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