USD/CHF Elliott Wave Forecast in 15 Minutes chart

A bullish trend is present in USD/CHF currency pair, 15 minutes chart. The price of USD/CHF currency pair is going to rise up now on a short-term basis to create a Bullish Impulse Elliott wave pattern and traders should consider taking a possible buy trading chance.

A strong key support level is present at 0.9950 price level. In my opinion, price action in USD/CHF currency pair has completed bearish corrective wave (ii) leg and now expect a bullish Impulse wave (iii) advance in price action. So, based on Elliott wave Forex forecast, bullish wave (iii) leg is going to move price action above, towards 1.0025 price area in coming trading hours.

Next, the price action is most likely going to print a short-term top as well in coming trading hours after completing bullish wave (iii) impulse pattern. As the trend is still bullish, Forex traders should consider only long trades and no trade against the current USD/CHF bullish trend as it is always easy to trade in the favor of the market trend. Currently, bullish wave (iii) leg looks half finished. A good idea is to look for a possible buy trading chance to join the up-trend around 0.9980 price area.

However; if the price action in USD/CHF Spot Forex pair breaks below 0.9950 important support level then Bullish Elliott wave forecast will become invalid. From this time forward, I may seize the opportunity to stay out of the market and re-assess the USD/CHF currency pair price movement in fifteen minutes chart.