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USD/CHF Elliott Wave Forecast 26th September, 2017

USD/CHF Elliott Wave Forecast 26th September, 2017

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USD/CHF Elliott Wave Forecast

USD/CHF Elliott Wave Forecast in 15 Minutes chart

The bullish trend is present in USD/CHF currency pair, 15 minutes time frame based on USD/CHF Elliott Wave Forecast. As I have forecasted few hours ago, the price of USD/CHF pair is going to rise up now on a short-term basis to prints a Bullish Expanded Flat Elliott wave pattern and traders should look for a buy trade. So, all those Forex traders who have followed my analysis have made the right decision as price has ascended.

Strong key support level is present at 0.9641 price area which is the originating point of bullish wave c leg. In my judgment, price action in USD/CHF currency pair is now rising up to print a Bullish Impulse wave c leg. So, market is going to remain sideways to complete the corrective Elliott wave pattern which looks in-complete. Based on Elliott wave analysis, the current bullish price action is the Bullish Impulse wave pattern which is part of a higher degree Expanded Flat pattern at wave B correction.

Currently, Bullish Impulse Elliott wave pattern looks in-complete. So, a good idea is to look for a possible buy trading chance to join an up trend around 0.9692 price area. However; if the price of USD/CHF currency pair breaks below 0.9641 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 fifteen minutes chart.

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

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USD/CHF Elliott Wave Forecast in 4 Hours chart

Below is the 4 hours chart of USD/CHF pair with my Elliott wave analysis which shows us a big picture and a well started bearish trend as well.

USD/CHF Elliott Wave Forecast

To me; price is trying to complete the Bearish Zig Zag Elliott wave pattern. Now, market is moving sideways to complete the corrective wave B leg. The bearish wave C leg is the last and final decline. Within the Bearish Zig Zag pattern, all sub-waves must sub-divides into an impulse 5, 3 and 5 waves Zig Zag pattern.

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

Bearish Zig Zag pattern

Based on my USD/CHF Elliott Wave Forecast in 4 hours chart, we have got an in-complete Bearish Zig Zag pattern. Now, price is probably going to move sideways and then falls more lower to complete the bearish impulse wave C leg. To me; in fifteen minutes chart of USD/CHF currency pair the bullish leg wave c in price action is just a pull back in a down trend as mentioned above as a Expanded Flat leg inside a 15 minutes price chart.

Strong key resistance level is present at 0.9747 in USD/CHF four hours chart. So, I expect market to falls down more now to complete the bearish wave C leg. So, in my opinion market is going to remain sideways and then resume the down trend in USD/CHF currency pair, in 4 hours chart.

However; price should stays below 0.9747 resistance area in 4 hours time frame to keep the down trend alive. A clear bullish break out in price action above 0.9747 resistance area will end the down trend and in such a market scenario, it would be best not to trade the market and re-analyze USD/CHF 4 hours chart.

Summary

Based on USD/CHF Elliott Wave Forecast the trend is down in 4 hours chart and a good idea is to look for a sell trade around 0.9730 price area, as price is going to drop more towards 0.9505 but a clear bullish break out in price action above 0.9747 vital resistance area will end the down trend. On a short term basis, it is a bullish trend in USD/CHF 15 minutes time frame and a good idea is to take a buy trade around 0.9692 price level and price is probably going to rise up towards 0.9745 price level. However; if the price of USD/CHF currency pair breaks below 0.9641 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.

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