Menu

USD/CHF Elliott Wave Weekly Forecast: 8th July to 22nd July 2019

USD/CHF Elliott Wave Weekly Forecast: 8th July to 22nd July 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 Double Zig Zag Elliott wave pattern 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 0.9833 price area which is the termination point of Bearish corrective wave x leg. In my judgment, price action in USD/CHF currency pair is now going to rise up more to prints Bullish corrective wave y 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 Bearish Impulse Elliott Wave pattern, wave 3 leg in higher time frame.

Currently, Bullish Double Zig Zag corrective Elliott wave pattern wave y looks in-complete. So, a good idea is to look for a possible buy trading chance to join an up trend around 0.9939 price area. However; if the price of USD/CHF currency pair breaks below 0.9833 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 actually bearish in higher time frame of USD/CHF currency pair.

Want to make money automatically with Forex, Bitcoin and other Cryptocurrencies, Commodities etc 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! WorldMarkets is for you! With the WorldMarkets AI Managed Account Services, only YOU are in control of your investment funds. WorldMarkets is a trading platform that uses artificial intelligence to handpick highly profitable and low-risk trades for its users. It also goes ahead to trade for you based on analyzed data. And yea, you guessed right, “it almost never loses”. This is indeed the holy grail of trading. It is much more reliable and profitable than paying gurus to trade for you, mulling over candle sticks or playing the luck game. Using this system, investors and traders have recorded over 30% Returns on Investment in less than a month. And with a 100% compound return, you simply cannot lose with WorldMarkets. All you have to do is sit back, manage your funds and let the AI trade for you. Are you ready to start making aggressive profits regardless of the market’s direction? If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to WorldMarkets now and choose a plan to start trading. PS: WorldMarkets is a Profitable Forex/Crypto AI Managed Trading Service. 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 bearish trend as well.

USD/CHF Elliott Wave Weekly Forecast

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

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

Bearish Impulse Wave

The Bearish 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 lower swing highs and lower swing lows. Bearish Impulse Elliott wave pattern in a down trending market could be seen inside the above image. The figure shows what a Bearish Impulse Elliott wave pattern looks like. If a trader knows what a Bearish 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 Bearish Impulse Wave consists of total five waves. Three bearish leg in the favour of a down trend and two bullish corrective Elliott wave patterns, against the down ward 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 Bearish Impulse Wave pattern is a motive Elliott wave pattern which appears at a trending market environment and moves in the favour of larger down ward 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 falling down to prints a bearish wave 3 impulse leg. However; it is possible if price breaks above blue colour resistance line then forecast will become in-valid. Now, price action is probably going to move sideways and then drop more to prints a Bearish Impulse wave 3 leg. To me; in four hours chart of USD/CHF currency pair the bullish leg – Bullish Double Zig Zag corrective wave pattern which is part of a higher degree wave 3 in daily chart is just a bullish pull back in a down trend leg as mentioned above as wave 3 Impulse wave pattern inside a daily price chart.

Strong key resistance level is present at 1.0342 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 decline. So, in my opinion market is going to remain bearish overall and on a medium to long term basis, expects a sideways leg in market. Next, market is probably going to resume the down trend after that in USD/CHF currency pair, in daily chart.

Now, when an existing Bearish 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 below 1.0342 resistance area in daily time frame to keep the down trend alive. A clear bullish break out in price action above 1.0342 resistance area will end the down trend and bearish 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 down in daily chart and a good idea is to look for a sell trade around 0.9699 price area, as price is going to drop more towards 0.9175 but a clear bullish break out in price action above 1.0342 vital resistance area will end the down trend. On a medium term basis, it is a bearish trend in USD/CHF 4 hours time frame and a good idea is to take a buy trade around 0.9939 price level and price is probably going to rise up towards 1.0000 price level. However; if the price of USD/CHF currency pair breaks below 0.9833 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