USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9532.

Main scenario: consider short positions from corrections below the level of 0.9532 with a target of 0.9323 – 0.9170.

Alternative scenario: breakout and consolidation above the level of 0.9532 will allow the pair to continue rising to the levels of 0.9651 – 0.9781.

Analysis: Supposedly, the third descending wave of larger degree (3) continues developing on the daily time frame, with wave 1 of (3) forming inside. On the 4-hour time frame, a correction finished developing in the form of wave iv of 1 and wave v of 1 is forming, with wave (iii) of v forming inside. Apparently, the third wave of smaller degree iii of (iii) has formed on the H1 time frame.  If this assumption is correct, the pair will continue to fall to 0.9323 – 0.9170 once correction  iv of (iii) has formed. The level of 0.9532 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 0.9651 – 0.9781.

LiteForex: USD/CHF: Elliott wave analysis and forecast for 12/06/2020 – 19/06/2020


LiteForex: USD/CHF: Elliott wave analysis and forecast for 12/06/2020 – 19/06/2020


LiteForex: USD/CHF: Elliott wave analysis and forecast for 12/06/2020 – 19/06/2020


P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex

Price chart of USDCHF in real time mode

USD/CHF: Elliott wave analysis and forecast for 12/06/2020 – 19/06/2020

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Rate this article:

{{value}} ( {{count}} {{title}} )





Source link