13 May 2015
USD/CHF sees bullish potential after downward correction ends – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, expects USD/CHF to find support around 0.9200 and turn bullish after the correction ends.
Key Quotes
“USDCHF reached lower levels last week and made a decline from Apr 13 as impulsive structure in wave C) that reached some important Fibonacci levels around 0.9100. Market bounced nicely from there, clearly in five waves visible on intraday charts which means that bullish price action should continue after current downward correction. We are tracking wave 2/B that can be looking for a support this week near 0.9200.”
Key Quotes
“USDCHF reached lower levels last week and made a decline from Apr 13 as impulsive structure in wave C) that reached some important Fibonacci levels around 0.9100. Market bounced nicely from there, clearly in five waves visible on intraday charts which means that bullish price action should continue after current downward correction. We are tracking wave 2/B that can be looking for a support this week near 0.9200.”