12 Jun 2015
EUR/CHF: End of wave 4 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted and explained that EUR/CHF has again failed at the top of the channel resistance at 1.0572.
Key Quotes:
"We note that the Elliott wave count is indicating this is the end of wave 4."
"We are alert to that possibility of failure and look for a slide back to the 1.0411 55 day ma. There is scope for the base of the channel at 1.0296."
"A close the top of the channel will target 1.0591, the 61.8% retracement of the move seen this year. Key support is viewed as 1.0296/80 – the base of the channel and recent low."
Key Quotes:
"We note that the Elliott wave count is indicating this is the end of wave 4."
"We are alert to that possibility of failure and look for a slide back to the 1.0411 55 day ma. There is scope for the base of the channel at 1.0296."
"A close the top of the channel will target 1.0591, the 61.8% retracement of the move seen this year. Key support is viewed as 1.0296/80 – the base of the channel and recent low."