USD/CHF: Elliott wave analysis and forecast for 16/08/2019 – 23/08/2019

USD/CHF: Elliott wave analysis and forecast for 16/08/2019 – 23/08/2019

The  USD/CHF pair is under correction, still likely to fall. Estimated pivot point is at a level of 0.9974.

Main scenario: short positions will be relevant from corrections below the level of 0.9974 with a target of 0.9556 – 0.9188 once the correction is completed.

Alternative scenario: breakdown and consolidation above the level of 0.9974 will allow the pair to continue the rise up to the levels of 1.0122 – 1.0230.

Analysis: Supposedly, an ascending correction of senior level in the form of the wave (2) finished developing on the D1 time frame and the wave (3) started forming. The third wave of junior level is forming inside the wave 1 of (3) on the H4 time frame. Apparently, the local correction  (ii) of iii is forming on the H1 time frame. If the presumption is correct, the pair will resume falling to the level of 0.9556 inside the wave (iii) of iii once the correction is over. The level of 0.9974 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels 1.0122 – 1.0230.

Do You Want To Make Thousands Of Dollars Extra Cash Every Month
Trade With Experts 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 DigiTech Team In Your Email

We Respect Your Privacy And Protect It Seriously



Author: Dr. Zia-al-Hassan
Introduction About Author Name : Dr. Zia-al-Hassan Nickname : ‘Forex Guru’ Contact Phone : +92-300-6561240, +92-345-7555157 Skype ID : PakistanHelpDesk | Contact Email : support@digitech.com.pk, ziaalhassan@live.com For More Details About Me. Please Follow This Link : http://www.digitech.com.pk/dr-zia-al-hassan-forexguru/
Do NOT follow this link or you will be banned from the site!