USD/CHF: Elliott wave analysis and forecast for 06/09/2019 – 13/09/2019
The USD/CHF pair is under correction, still likely to grow. Estimated pivot point is at a level of 0.9797.
Main scenario: long positions will be relevant from corrections above the level of 0.9797 with a target of 0.9975 – 1.0010.
Alternative scenario: breakout and consolidation below the level of 0.9797 will allow the pair to continue declining to the levels at 0.9656 – 0.9556.
Analysis: Supposedly, an ascending correction of senior level in the form of wave (2) finished developing on the daily time frame and wave (3) started forming. The first counter-trend wave 1 of (3) is forming as a wedge on the H4 time frame, with an ascending correction of junior level ii of 1 developing inside. Apparently, wave (c) of ii is forming on the H1 time frame, with wave v of (c) developing inside. If the presumption is correct, the pair will continue to rise to the levels 0.9975 – 1.0010 in the short term. The level 0.9797 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 0.9656 – 0.9556.
Do You Want To Make Thousands Of Dollars Extra Cash Every Month
From Forex Trading In Pakistan?
Subscribe To Our Mailing List And Get Free Forex Training Videos, Free Forex Trading Strategies, Free Forex Indicators, Robots And Free Forex Analysis From ForexGuru.Pk Team In Your Email
We Respect Your Privacy And Protect It Seriously