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

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…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>