Menu

AUD/CHF Elliott Wave Forecast 1st May to 15th May 2020

AUD/CHF Elliott Wave Forecast 1st May to 15th May 2020

Share This!

AUD/CHF Elliott Wave Forecast
AUD/CHF Elliott Wave Forecast in 4 hours chart

Based on technical analysis AUD/CHF Elliott Wave Forecast, the bearish trend is present in AUD/CHF currency pair, 4 hours time frame based on AUD/CHF Elliott Wave Weekly Forecast. As I have forecasted few hours ago, the price of AUD/CHF pair is going to drop now to prints a Bearish Zig Zag Elliott wave pattern and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott wave forecast have made the right decision as price has descended.

Strong key resistance level is present at 0.6399 price area which is originating point of Bearish wave A leg. In my judgment, price action in AUD/CHF currency pair is going to move up to print Bullish Zig Zag wave B leg. Next expect further decline in price action to complete a Bearish corrective wave pattern – wave C. So, market is going to remain bearish on a short term basis. Next, expects a bottom in price action as well. Based on Elliott wave forecast, current Bearish trend is part of a Bearish corrective Elliott wave pattern. I am talking about wave (B) leg in higher time frame.

Currently, Bearish corrective Elliott wave pattern, wave A leg looks complete. So, a good idea is to look for a possible sell trading chance to join the down trend around 0.6276 price area. However; if price of AUD/CHF currency pair breaks above 0.6399 vital resistance level then down trend is going to end. In such a market scenario, it would be best not to trade Forex market and re-do AUD/CHF Elliott wave analysis in four hours chart.

If you are a trader who prefer to use robots and EAs to automate your trades and make them very profitable for you or require very good forex/stock training resources, please check this page.

Now, at this point; I must acknowledge that the trend is bullish in higher time frame of AUD/CHF currency pair.

AUD/CHF Elliott Wave Forecast in daily chart

 

? ***Want to earn money with Bitcoin and other Cryptocurrencies without the pain and hassle of learning to trade from scratch? Imagine if you could trade and get regular results with profitable performance! Are you tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard-earned funds? If any of that rings true with you, then STOP EVERYTHING. ProfitFarmers is for you! With their software working as your Crypto Co-Pilot, YOU remain as the Pilot with total control over your money, 100% of the time. ProfitFarmers is a trading tool that combines artificial intelligence with the expertise of veteran traders to deliver high-probability trade plans right into your hands. There’s no need to spend hours trying to figure out what to trade!
Thanks to their integration with Binance, the biggest cryptocurrency exchange worldwide, ProfitFarmers executes your trades from entry to exit, you just choose the trade signals you like, pick your entry price and then let your Co-pilot take over the rest of the journey. Stay informed about every step of your money-making journey through push-notifications on their mobile app. Now there’s no need to constantly worry about your ongoing trades, just let your Co-Pilot handle it for you! This could easily be the holy grail of trading tools. Forget paying a guru to trade for you and take a massive cut of what you earn. With ProfitFarmers there are absolutely NO COMMISSIONS OR FEES ON YOUR TRADES. 100% of what you earn is 100% yours to keep. Period. Last quarter, ProfitFarmers produced 1,357 trade plans, and more than 60% of them offered peak gains of over +8%. By joining ProfitFarmers, you’ll never be short on money-making opportunities. Still wondering if this is too good to be true? ProfitFarmers has a 100% Money-Back Guarantee if they don’t deliver profitable opportunities onto their platform. If you are ready to upgrade your trading game and instantly expose yourself to profitable trade opportunities, now is the time. Head to ProfitFarmers now to start trading the easier way, with your very own Crypto Co-Pilot.

PS: ProfitFarmers is a Trading Tool. Your money ALWAYS remains in your Binance wallet, never on ProfitFarmers. 100% Verified and Recommended by Valforex.com.

Below is the daily chart of AUD/CHF pair with my Elliott wave forecast which shows us a big picture and a well started bullish trend as well.

AUD/CHF Elliott Wave Forecast

To me; price have printed Bullish motive wave A leg. So, expect price action in AUD/CHF currency pair to move sideways to down to print bearish Zig Zag wave (B) leg. Next, expects a bottom in price action. Next, market is going to rise up to print bullish leg wave (C). After that, price is going to prints a medium term bottom as well. Within Bullish Corrective Elliott wave pattern, all sub-waves must sub-divides into 5, 3 and 5 waves pattern.

The following Elliott Wave Bullish Zig Zag wave diagram shows us a completed Bullish Zig Zag corrective pattern within the frame work of Elliott wave principle.

Bullish Zig Zag

The bullish Zig Zag wave pattern of the Elliott wave principle shows that how price action does not moves in a straight line fashion but in a series of highs (rises) and lows (retracements). Bullish Zig Zag Elliott wave pattern in an up trending market could be seen inside the above image. The figure shows what a Bullish Zig Zag Elliott wave pattern looks like. If a trader knows what a bullish Zig Zag pattern looks like, then it would become much easy for a currency trader to actually analyze the Forex charts and make a trading decision as well.

A Bullish Zig Zag consists of two Impulse Elliott wave patterns, joined by a B wave. We use A English alphabet to label first impulse Zig Zag wave leg and we use C English alphabet to label second Impulse Zig Zag wave leg. Please take a note that Bullish Zig Zag pattern is a corrective Elliott wave pattern which appears at a pull back in a main down market trend.

Based on my AUD/CHF using Elliott Wave in daily chart, we have got an in-complete bullish Zig Zag leg. So, market is going to first move sideways to down to prints bearish corrective wave (B) pattern. However; it is possible if price breaks below green colour support line then forecast will become in-valid.

To me; in four hours chart of AUD/CHF currency pair the bearish wave C leg which is part of a higher degree wave B corrective pattern in daily chart is just a bearish leg in an up trend. As mentioned above as Bearish Zig Zag corrective wave leg inside a 4 hours chart.

Strong key support level is present at 0.5328 price area in AUD/CHF daily chart. So, I expect market to first move sideways for next coming trading days and then may be start moving up. So, in my opinion market is going to remain bullish overall. And on a medium to long term basis, expects a sideways to bullish leg in market. Next, market is probably going to resume the Bullish trend after that in AUD/CHF currency pair, in daily chart.

 

Now, when an existing Bullish Elliott Wave Weekly Forecast in AUD/CHF is going to fail?

Well, the forecast is good for about next two weeks time. And price should stays above 0.5328 support area in daily time frame to keep the up trend alive. A clear bearish break down in price action below 0.5328 support area will end the up trend. It will also fail bullish Elliott Wave Weekly Forecast as well. In such a market scenario, it would be best not to trade the market and re-analyze AUD/CHF daily chart.

Summary

 

Based on AUD/CHF Elliott Wave Weekly Forecast the trend is up in daily chart. A good idea is to look for a buy trade around 0.5720 price area. As price action is going to rise up towards 0.6810. But a clear bearish break down in price action below 0.5328 vital support area will end up trend. On a medium term basis, it is a bearish trend in AUD/CHF 4 hours time frame.

A good idea is to take a sell trade around 0.6276 price level. Next, price is probably going to drop lower towards 0.6062 price level. However; if price of AUD/CHF currency pair breaks above 0.6399 vital resistance level then bearish trend is going to end. We recommend trading with these top-rated brokers when using our signals/analyses/forecasts as they handle your trades quicker and more efficiently with very low spreads and most of them have high trade execution rate.

If You'd Like to Get Notified When This Site is Updated, Subscribe Below...

Leave a Reply

Your email address will not be published. Required fields are marked *

IQ Mining

Binary Option Scams, Warnings, Reviews & Updates...

Binbotpro

Popular Articles

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Show Buttons
Hide Buttons