USDCHF: Elliott wave analysis and forecast for 02.02.24 – 09.02.24

Main scenario: consider short positions from corrections below the level of 0.8726 with a target of 0.8200 – 0.8050. 

Alternative scenario: breakout and consolidation above the level of 0.8726 will allow the pair to continue rising to the levels of 0.8784 – 0.8890.

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 completed as the second wave 2 of (5). The third wave 3 of (5) has started developing on the H4 chart, with the first wave of smaller… Read full author’s opinion and review in blog of #LiteFinance