USDCHF broke to a new high, after recent consolidation in fourth wave, so current leg up is wave five, final within larger extended wave 3) that already reached some Fibonacci projected levels around 0.9430. However, there is room for 0.9470 but we need to be aware of fifth wave here and that sooner or later new corrective wave four will occur.…
USD Index did not move much for the last two weeks, as price action slowed down after recent strong rally from 81.40 since mid-August. We see current price as just another pause within ongoing trend. We believe it's fourth wave that is pointing up into wave (v) towards 85.00 area.
USD Index 4h Elliott Wave Analysis…Continue
GBPUSD is in a recovery mode, away from 1.6050 where we marked a completed wave 3) that has an open gap near 1.6330. Those gaps usually react as a resistance once they are filled. Therefore, we are even more confident that rally from the low is corrective and temporary; ideally it's wave 4) that will complete a pullback in the next couple of days and send price back down, into wave 5) that can fall even beneath 1.6000 psychological level. In the meantime critical level remains at 1.6531 as…Continue
EURUSD has been falling sharply for the last couple of months and forming an extended decline from 1.3700 which we think it represents wave 3) within a larger bearish trend. As such, current price may extend much lower, even to 1.2700 before we get a corrective rally of a larger degree, back in wave 4).
This bearish move was already anticipated on our past update
EURUSD Daily Elliott Wave…