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30 Dec 2014
USD/CHF may turn bearish earlier than expected – EWForecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast shares that the USD/CHF pair is in wave five and hence can turn bearish earlier than expected, with the pair now reversing from 0.9929 zone.
Key Quotes
“Ideally USDCHF will rally up to 1.0000 psychological level before turning down, but keep in mind that pair is in wave five, final leg of a larger impulsive uptrend, so don't be surprised if price will turn bearish earlier than we think.”
“Notice that market is reversing now slightly from 0.9920 area, so we need to keep an eye on any further weakness; move beneath 0.9820 could be an important sing for a deeper retracement.”
Key Quotes
“Ideally USDCHF will rally up to 1.0000 psychological level before turning down, but keep in mind that pair is in wave five, final leg of a larger impulsive uptrend, so don't be surprised if price will turn bearish earlier than we think.”
“Notice that market is reversing now slightly from 0.9920 area, so we need to keep an eye on any further weakness; move beneath 0.9820 could be an important sing for a deeper retracement.”