Top trade idea for April 5th, 2016 – USD/CHF and USD/JPY

Top trade idea for April 5th, 2016 – USD/CHF and USD/JPY

By Gregor Horvat on Apr 5, 2016 02:22:16 GMT

  • Tweet
  • Email
  • Tweet
  • Email


USDCHF did not go far for the last 48 hours so it appears that bears are still here and that current sideways price action is just another pause within down trend. That said, we think that USDCHF is going to see a new low soon, out from a triangle that already shows signs of a completion. There is room for fifth wave to hit 0.9500 where down trend can slow down this month. Keep in mind that trust out from a triangle are final within larger trend.



USDJPY is looking interesting, now in late stages of an extended black wave 3 that should send price in some slow and corrective wave. That will be wave 4 then as part of a downtrend that can be in fact, very interesting for shorts in the next few sessions for a continuation down to around 109.00 area. At the same time traders will have to keep an eye on 112.01 where overlap would invalidate our bearish view.


About Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: Try’s Services Free For 7 Days at

Recent posts by Gregor Horvat

  • Top trade idea for November 16th, 2016 – EUR/USD
  • Top Trade Idea For November 1st,2016 – Crude Oil
  • Top trade idea for October 18th, 2016 – USD

Economic Calendar News, Charts, Research & Video

Copyright © | Privacy Policy

Market commentary and/or opinions presented do not necessarily represent the opinions of ForexNews. You are advised to conduct your own independent research before making a decision. This website is an information site only. Accordingly, ForexNews makes no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. You should obtain individual financial advice based on your own particular circumstances before making an investment decision on the basis of information on this website.

Будьте первым, кто решился написать!

Поделитесь своим мнением:

E-Mail адрес не будет опубликован.