Flat pattern and continuation of the bear market
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I hope you have had a good week.
Analysis (USD=Swiss Franc)
With the weakness of the dollar against other currencies, the Swiss franc is not an exception!
If the dollar just does a big correction pattern, it should at least resume its bull market with a zigzag pattern???!!
Otherwise, the weakness of the dollar will increase from a correction pattern against all currencies against itself, it will turn into a downward trend and a strong bearish market will appear.
The Elliott wave principle does not do magic and it depends on the analyst and her experience, and I have 2 years of work experience and I have no claims.
Starting at $1.01471 is an impulse pattern that I considered to be wave (C) of a flat pattern but the market invalidated the flat pattern! Many times, it is possible that you have analyzed correctly, but that pattern will be invalid!
Currently, this impulse pattern has formed wave (a) or (1) and the correction of the trend is still incomplete, and wave (b) or (2) may show a flat pattern or a zigzag and then due to the weakness of the dollar. It will continue to be a bear market around the price of $0.83869.
The price may reach $0.81269 with further decline.
Good luck!
Buy = low
Sales = High
I hope you have had a good week.
Analysis (USD=Swiss Franc)
With the weakness of the dollar against other currencies, the Swiss franc is not an exception!
If the dollar just does a big correction pattern, it should at least resume its bull market with a zigzag pattern???!!
Otherwise, the weakness of the dollar will increase from a correction pattern against all currencies against itself, it will turn into a downward trend and a strong bearish market will appear.
The Elliott wave principle does not do magic and it depends on the analyst and her experience, and I have 2 years of work experience and I have no claims.
Starting at $1.01471 is an impulse pattern that I considered to be wave (C) of a flat pattern but the market invalidated the flat pattern! Many times, it is possible that you have analyzed correctly, but that pattern will be invalid!
Currently, this impulse pattern has formed wave (a) or (1) and the correction of the trend is still incomplete, and wave (b) or (2) may show a flat pattern or a zigzag and then due to the weakness of the dollar. It will continue to be a bear market around the price of $0.83869.
The price may reach $0.81269 with further decline.
Good luck!
Buy = low
Sales = High
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