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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

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