Market Overview

USDCHF And EURGBP Intraday Elliott Wave Analysis


USD has also turned higher againts the Swiss Franc in this week with five waves up from the lows which means that trend is now bullish. we expect more upside in the next few days but after three wave set-back to 0.8890/10 zone.

USDCHF Intraday Elliott Wave Analysis

Latest decline on EURGBP can be counted in five waves which is another confirmation for bearish EUR, now also on some crosses. We know that five wave patterns are showing direction of a trend which in our case is down so we expect further weakness after any pullback. It seems that this pullback is now already underway. Usually those corrective three wave retracements will stop in the area of previous fourth waves, which in our case comes in from 0.8386-0.8412 so we may see more upside before pair may turn south again.

EURGBP Intraday Elliott Wave Analysis

Written by

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Forex Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!