Menu

USD/CHF Elliott Wave Weekly Forecast: 10th April to 24th April 2019

USD/CHF Elliott Wave Weekly Forecast: 10th April to 24th April 2019

Share This!

USD/CHF Elliott Wave Weekly Forecast

USD/CHF Elliott Wave Weekly Forecast in 4 hours chart

Based on technical analysis the bullish trend is present in USD/CHF currency pair, 4 hours time frame based on USD/CHF Elliott Wave Weekly Forecast. As I have forecasted few hours ago, the price of USD/CHF pair is going to rise up now to prints a Bullish Impulse Elliott wave iii leg and traders should look for a buy trade. So, all those Forex traders who have followed my Elliott wave forecast have made the right decision as price has ascended.

Strong key support level is present at 0.9893 price area which is the termination point of Bearish corrective wave ii leg. In my judgment, price action in USD/CHF currency pair is now to going to rise up to prints Bullish Impulse wave iii leg. So, market is going to remain bullish on a short term basis, overall. Based on Elliott wave forecast, the current Bullish trend is part of a Bullish Impulse Elliott Wave pattern, wave 3 leg in higher time frame.

Currently, Bullish corrective Expanded Flat pattern wave ii looks complete. So, a good idea is to look for a possible buy trading chance to join an up trend around 1.0025 price area. However; if the price of USD/CHF currency pair breaks below 0.9893 vital support level then up trend is going to end. In such a market scenario, it would be best not to trade the Forex market and re-do the USD/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 also bullish in higher time frame of USD/CHF currency pair.

👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.

worldmarkets

USD/CHF Elliott Wave Weekly Forecast in daily chart

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

USD/CHF Elliott Wave Weekly Forecast

To me; price has printed Bearish corrective wave 2 leg. Now, price action is going to rise up to complete the Bullish Impulse wave 3 pattern. So, now market is moving up on a long term basis to complete the Bullish Impulse wave 3 leg. The Bullish Impulse wave 3 leg is the not the last and final rise and price is going to prints a short term top after that. Within the Bullish Impulse Elliott wave pattern, all sub-waves must sub-divides into 5, 3, 5 3 and 5 waves pattern.

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

Bullish Impulse pattern

The Bullish Impulse 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 higher swing highs and higher swing lows. Bullish Impulse Elliott wave pattern in an up trending market could be seen inside the above image. The figure shows what a Bullish Impulse Elliott wave pattern looks like. If a trader knows what a Bullish Impulse Wave 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 Impulse Wave consists of total five waves. Three bullish leg in the favour of an up trend and two bearish corrective Elliott wave patterns, against the upward market trend. We use numbers to label impulse wave 1, 2, 3, 4 and 5 and inside wave 2 and 4, we use English alphabets to label corrective wave structures. Please take a note that Bullish Impulse Wave pattern is a motive Elliott wave pattern which appears at a trending market environment and moves in the favour of larger upward market trend.

Based on my USD/CHF technical analysis using Elliott Wave in daily chart, we have got a completed Bullish corrective wave 2 leg and price action is now rising up to prints a bullish wave 3 impulse leg. However; it is possible if price breaks below green colour support line then forecast will become in-valid. Now, price action is probably going to move sideways and then rise up more to prints a Bullish Impulse wave 3 leg. To me; in four hours chart of USD/CHF currency pair the bearish leg – Bearish Zig Zag corrective wave pattern which is part of a higher degree wave 3 in daily chart is just a bearish pull back in an up trend leg as mentioned above as wave 3 Impulse wave pattern inside a daily price chart.

Strong key support level is present at 0.9541 price area in USD/CHF daily chart. So, I expect market to first move sideways for next coming trading days and then may be starts the rise. So, in my opinion market is going to remain bullish overall and on a medium to long term basis, expects a sideways leg in market. Next, market is probably going to resume an up trend after that in USD/CHF currency pair, in daily chart.

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

Well, the forecast is good for about next two weeks time and price should stays above 0.9541 support area in daily time frame to keep the up trend alive. A clear bearish break down in price action below 0.9541 support area will end the up trend and bullish Elliott Wave Weekly Forecast; in such a market scenario, it would be best not to trade the market and re-analyze USD/CHF daily chart.

Summary

Based on USD/CHF Elliott Wave Weekly Forecast the trend is up in daily chart and a good idea is to look for a buy trade around 1.0055 price area, as price is going to rise up more towards 1.0369 but a clear bearish break down in price action below 0.9541 vital support area will end the up trend. On a medium term basis, it is a bullish trend in USD/CHF 4 hours time frame and a good idea is to take a buy trade around 1.0025 price level and price is probably going to rise up towards 1.0190 price level. However; if the price of USD/CHF currency pair breaks below 0.9893 vital support level then bullish 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… Read More

Show Buttons
Hide Buttons