USD/CHF: Elliott Wave Analysis, Forecast For 29/05/2020 – 05/06/2020

USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9782.

Main scenario: Consider short positions from corrections below the level of 0.9782 with a target of 0.9454 – 0.9238.

Alternative scenario: Breakout and consolidation above the level of 0.9782 will allow the pair to continue rising to the levels of 1.0024 – 1.0235.

Analysis: Supposedly, the third descending wave of larger degree (3) continues developing on the daily time frame, with wave 3 of (3) forming inside. On the 4-hour time frame, a correction finished developing in the form of wave ii of 3 and wave iii of 3 is forming. Apparently, on the H1 time frame the third wave of smaller degree (iii) of iii is forming , with wave ii of (iii) completed and wave iii of (iii) forming inside. If the presumption is correct, the pair will continue to drop to the levels of 0.9454 – 0.9238. The level of 0.9782 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0024 – 1.0235.

LiteForex: USD/CHF: Elliott wave analysis and forecast for 29/05/2020 – 05/06/2020


LiteForex: USD/CHF: Elliott wave analysis and forecast for 29/05/2020 – 05/06/2020


LiteForex: USD/CHF: Elliott wave analysis and forecast for 29/05/2020 – 05/06/2020

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