USD/CHF: Elliott wave analysis and forecast for 10.07.2020 – 17.07.2020

USD/CHF remains likely to fall. Estimated pivot point is at the level of 0.9530.

Main scenario: consider short positions from corrections below the level of 0.9530 with the target in 0.9170 – 0.9050.

Alternative scenario: breakout and consolidation above the level of 0.9530 will allow the pair to continue rising to the levels of 0.9651 – 0.9781.

Analysis: Supposedly, the descending third wave of larger degree (3) continues developing on the USD/CHF daily time frame, with wave 1 of (3) forming inside. On the H4 time frame, wave v of 1 is forming, wave (iii) of v finished developing inside of it. On the H1 time frame,…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>