Forex

USDCHF Is Slowing Down: Elliott Wave Intraday AnalysisMay 23, 2022

Hello traders, today we will talk about USDCHF pair. We will show you price action from technical point of view and wave structure from Elliott wave perspective.

USDCHF came higher very aggressively back in April and at the start of May, but after recent slow down for the US dollar, we can see USD is the weakest against CHF currency. So, USDCHF pair can be now trading in an Elliott wave (A)-(B)-(C) corrective decline.

Bearish Setup
Bearish Impulse Leads To Bearish Setup

In Elliott waves, we always have to expect corrections to be made by three waves A-B-C, especially if we get a five-wave impulse in the first leg A.

USDCHF chart

With current sharp and impulsive decline, USDCHF can be now finishing an Elliott wave five-wave cycle within first leg (A). So, bounce and Elliott wave three-wave A-B-C corrective recovery in wave (B) can be around the corner before we will see another decline for wave (C). Resistance can be anywhere between 0.98 – 0.99 area.

Happy trading!

Are you interested in more analysis? Check our latest video CLICK HERE TO WATCH

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close