USDCHF: Elliott wave analysis and forecast for 31.05.24 – 07.06.24

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Main scenario: consider short positions from corrections below the level of 0.9161 with a target of 0.8325 – 0.8050. 

Alternative scenario: breakout and consolidation above the level of 0.9161 will allow the pair to continue rising to the levels of 0.9451 – 0.9838.

Analysis: the downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame. As its part, wave 1 of (5) is formed, a bullish correction is completed as second wave 2 of (5), and the third wave 3 of (5) is unfolding. Correction is completed as second wave ii of 3 on the… Read full author’s opinion and review in blog of #LiteFinance

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