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USDCHF: Elliott wave analysis and forecast for 16.07.2021 – 23.07.2021

Predominant situation: Think about brief positions from corrections under the extent of 0.9269 with a goal of 0.9096 – 0.9055.

Different situation: breakout and consolidation above the extent of 0.9269 will enable the pair to proceed rising to the degrees of 0.9370 – 0.9476.

Evaluation: Day by day time-frame: presumably, a descending first wave of bigger diploma (1) of 5 fashioned, and an ascending correction is now creating as second wave (2) of 5. On the H4 time-frame, wave A of (2) fashioned and wave B of (2) completed creating. Apparently, wave С of (2) began creating on the H1 time-frame, with the primary wave of smaller diploma i of C fashioned and a downward correction creating as wave ii of C inside. If this assumption is appropriate, the pair will proceed to fall to 0.9096 – 0.9055. The extent of 0.9269 is crucial on this situation. Its breakout will enable the pair to proceed rising to the degrees of 0.9370 – 0.9476.



Value chart of USDCHF in actual time mode

The content material of this text displays the writer’s opinion and doesn’t essentially mirror the official place of LiteForex. The fabric revealed on this web page is supplied for informational functions solely and shouldn’t be thought of as the availability of funding recommendation for the needs of Directive 2004/39/EC.

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