USDCHF: Elliott wave analysis and forecast for 11.02.22 – 18.02.22

Main scenario: consider short positions from corrections below the level of 0.9343 with a target of 0.8924 – 0.8768.

Alternative scenario: breakout and consolidation above the level of 0.9343 will allow the pair to continue rising to the levels of 0.9506 – 0.9680.

Analysis: a descending first wave of larger degree (1) of 5 is formed on the daily chart, and a correction has presumably developed as the second wave (2) of 5, with wave C of (2) formed inside. Supposedly, the third descending wave (3) of 5 started developing on the H4 chart, with the first counter-trend wave of… Read full author’s opinion and review in blog of #LiteForex