USDCHF: Elliott wave analysis and forecast for 24.11.23 – 01.12.23

Main scenario: consider short positions from corrections below the level of 0.8900 with a target of 0.8755 – 0.8706.

Alternative scenario: breakout and consolidation above the level of 0.8900 will allow the pair to continue rising to the levels of 0.9006 – 0.9109.

Analysis: the downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame, with wave 1 of (5) formed as its part. A bullish correction is currently unfolding as second wave 2 of (5). Wave of smaller degree a of 2 is formed on the H4 time frame, and a descending correction is… Read full author’s opinion and review in blog of #LiteFinance