USDCHF: Elliott wave analysis and forecast for 18.02.2022 – 25.02.2022

Main scenario: Consider short positions from corrections below the level of 0.9296 with a target of 0.8924 – 0.8768. 

Alternative scenario: breakout and consolidation above the level of 0.9296 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. The third wave (3) of 5 has apparently started developing on the H4 chart, with the first counter-trend wave of… Read full author’s opinion and review in blog of #LiteFinance