USDCHF: Elliott wave analysis and forecast for 23.06.23 – 30.06.23

Main scenario: consider short positions on corrections below the level of 0.9000 with a target of 0.8704 – 0.8520.

Alternative scenario: breakout and consolidation above the level of 0.9000 will allow the pair to continue rising to the levels of 0.9107 – 0.9206.

Analysis: an ascending correction of a larger degree is formed as the fourth wave (4) in the daily chart. The bearish fifth wave (5) started unfolding. The first wave of smaller degree 1 of (5) is presumably developing in the H4 chart. As its part, wave iii of 1 is formed, and a local correction is completed… Read full author’s opinion and review in blog of #LiteFinance