E Elliott Wave Analysis: USD/CHF And GBP/AUD


USD/CHF is trading bearish, now at the end of wave 3. We can see five legs within the mentioned wave, which means the market may be ready to turn higher, into a three-wave recovery for wave 4. If so, then maybe new resistance can be seen around the 0.9828 level.

USD/CHF, 1H

GBP/AUD is making a bullish, impulsive structure away from November low. Specifically, we see price trading at the end of sub-wave iv of iii); that can find support near the Fibonacci ratio of 38.2 and turn higher.

GBP/AUD, 4H

 

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