USDCHF: Elliott wave analysis and forecast for 01.12.23 – 08.12.23

Main scenario: consider long positions above the level of 0.8546 with a target of 0.9109 – 0.9246 once a correction is formed.

Alternative scenario: breakout and consolidation below the level of 0.8546 will allow the pair to continue declining to the levels of 0.8392 – 0.8238.

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… Read full author’s opinion and review in blog of #LiteFinance