Elliott Wave Analysis: USD/CHF Update

USD/CHF can be trading in an EW flat correction as EUR/USD. We see recovery from 0.9256 as sub-wave a, followed by a sharp drop as b and now intra-day rally from the lows indicates that maybe blue wave c of 4 can be in progress. As such price can rally towards the 0.9473 level, before final drop lower comes into play as black wave 5 of C).

USD/CHF, 4H

USD/CHF 4-Hour Chart

A Flat is a three-wave pattern labelled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern. Its structure is a 3-3-5 form with wave c having five sub-waves.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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