USDCHF: Elliott wave analysis and forecast for 30.06.23 – 07.07.23

Main scenario: consider short positions from corrections below the level of 0.9015 with a target of 0.8704 – 0.8520.

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. As its part, wave iii of 1 is formed, and a correction is completed as wave… Read full author’s opinion and review in blog of #LiteFinance