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USDCHF Remains Bullish Within Impulsive Rise-Elliott Wave Forecast

November 6, 2013 in Forex Analysis

USDCHF extended its gains in the last week, through 0.9044 swing and more importantly, it moved out of a recent upward channel. This breakout (blue circle) usually occurs in the middle of a wave three of a five wave rally, so if we respect the price action then pair is now forming an important bullish reversal from October lows. With that said, USDCHF is expected to stay in bullish mode, so current slow and sideways price action above 0.9090 is wave 4 of 3) which means that price is expected to rise up in wave 5 of 3) towards 0.9180-0.9190.

USDCHF Elliott Wave

Contributed by ew-forecast

EURUSD Analysis 17th August, 2012

August 17, 2012 in Forex Analysis

EURUSD  Analysis 17th August, 2012

Pair has formed Head & Shoulder pattern in Daily charts, targeting towards 1.2690

It has resistance @1.25 &1.2740 and Support @ 1.2040. Yesterday pair closed above 50 days simple moving average and RSI (14)  is above its midline 

My Overall View is bullish towards level 1.38 

Buy @1.2375 Stop @1.2260 Target @1.25 & 1.2690, 1.2740

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