USDCHF: Elliott wave analysis and forecast for 27.11.20 – 04.12.20

Main scenario: consider long positions above the level of 0.8978 with a target of 0.9296 – 0.9468.

Alternative scenario: breakout and consolidation below the level of 0.8978 will allow the pair to continue declining to the levels of 0.8900 – 0.8800.

Analysis: Daily time frame: presumably, the descending first wave of larger degree (1) of 5 formed and an ascending correction is now developing as wave (2) of 5. H4 time frame: wave A of (2) formed and wave B of (2) finished developing. Apparently, wave С of (2) is developing on the H1 time frame, with the first wave… Read full author’s opinion and review in blog of #LiteForex