Intraday Elliott Wave Analysis: USDCHF Unfolding Five Waves Up
Hello traders!
Today we want to share with you an interesting intraday setup formation on USDCHF pair, where we potentially see a five-wave cycle in progress from 0.8925 lows.
Current slow price action and corrective wave structure we see as part of an a-b-c pullback within wave "iv" that can find the support ideally around 38,2% Fibonacci retracement and 0.9135 level, from where we can expect bounce and recovery back to highs for wave "v".
USD is making quite big pullback, but not against CHF as it's also weak, so be aware of a continuation higher this week.
Be humble and trade smart!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Today we want to share with you an interesting intraday setup formation on USDCHF pair, where we potentially see a five-wave cycle in progress from 0.8925 lows.
Current slow price action and corrective wave structure we see as part of an a-b-c pullback within wave "iv" that can find the support ideally around 38,2% Fibonacci retracement and 0.9135 level, from where we can expect bounce and recovery back to highs for wave "v".
USD is making quite big pullback, but not against CHF as it's also weak, so be aware of a continuation higher this week.
Be humble and trade smart!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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