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7 Jan 2015
USD/CHF might move towards 1.0200 levels – EWForecast
FXStreet (Barcelona) - Gregor Horvat or EW-Forecast, uses Elliot Wave analysis and predicts the USD/CHF pair to progress higher towards 1.0200 levels as wave five comes into play.
Key Quotes
“USDCHF is trading at new high after recent minor corrective retracement that found buyers near 1.0036. We labeled that retracement as fourth wave so fifth wave can be in progress towards higher levels, possibly to around 1.0200. But be aware of a potential bearish reversal or maybe just another corrective set-back in days ahead as we see price in late stages of an impulse from 0.9552.”
Key Quotes
“USDCHF is trading at new high after recent minor corrective retracement that found buyers near 1.0036. We labeled that retracement as fourth wave so fifth wave can be in progress towards higher levels, possibly to around 1.0200. But be aware of a potential bearish reversal or maybe just another corrective set-back in days ahead as we see price in late stages of an impulse from 0.9552.”