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Monday, January 27, 2014

USD/CHF - Look for a break above 0.8991 to comfirm the next rally higher.


USD/CHF

The correction from 0.9127 turned into an expanded flat correction. We have likely just seen the low of wave c ii at 0.8900 (close to the 70.7% corrective target of wave i) and we should be looking for a break above resistance at 0.8991 as the first indication, that wave iii higher towards 0.9436 is developing. However, to confirm that wave ii is over a break above 0.9081 is needed.

Important support is at 0.8798 the start of wave i.

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5 comments:

  1. UnknownJanuary 27, 2014 at 2:25 PM

    hi ews, I have the same view on usd/chf. can you make an observation on usd/mxn, please?
    thanx

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    Replies
    1. Elliott wave surferJanuary 27, 2014 at 5:10 PM

      Hi Marjan,

      It looks like USD/MXN is in a major triangle. We have seen wave A, B and C is cuurently in wave D higher towards 14,00 before wave E lower and then the major break towards the upside.

      Kind regards
      EWS

      Delete
  2. ZinkJanuary 27, 2014 at 8:58 PM

    Hi!

    EWS what you think about this my analisis of GBPUSD?

    https://www.dropbox.com/s/zqmbf96c5yerfq2/gbpusd.jpg

    ReplyDelete
    Replies
    1. Elliott wave surferJanuary 28, 2014 at 8:50 AM

      Hi Zink,

      For now it's a valid Count. I do belive you will get in trouble soon and unpon a break into wave 1 at 1.5457 you will have to deem it invalid. However if you does see a break above 1.6668 you Count will be proved valid.

      For now stay with your Count and enjoy the ride.

      Kind regards
      EWS

      Delete
    2. ZinkJanuary 28, 2014 at 9:08 AM

      1,5457?! you mean 1,6458?

      Delete

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