USDCHF: Elliott wave analysis and forecast for 07.07.2023 – 14.07.2023

Main scenario: consider short positions from corrections below the level of 0.9015 with a target of 0.8820 – 0.8704.

Alternative scenario: breakout and consolidation above the level of 0.9015 will allow the pair to continue rising to the levels of 0.9056 – 0.9145.

Analysis: an ascending correction of larger degree is formed as the fourth wave (4) on the daily chart. A bearish fifth wave (5) started unfolding. The first wave of smaller degree 1 of (5) is presumably developing on the H4 chart, with wave v of 1 forming inside. Apparently, wave (i) of v and a local correction… Read full author’s opinion and review in blog of #LiteFinance