USDCHF: Elliott wave analysis and forecast for 30.04.21 – 07.05.21

Main scenario: consider long positions above the level of 0.9072 with a target of 0.9505 – 0.9590.

Alternative scenario: breakout and consolidation below the level of 0.9072 will allow the pair to continue declining to the levels of 0.8873 – 0.8768.

Analysis: Presumably, a descending first wave of larger degree (1) of 5 finished developing on the daily time frame, with wave 5 of (1) formed inside. An ascending correction started developing as wave (2) on the H4 time frame, with wave A of (2) forming inside. The third wave of smaller degree iii of А appears to have formed… Read full author’s opinion and review in blog of #LiteForex