USDCHF: Elliott wave analysis and forecast for 25.09.20 – 02.10.20

Main scenario: Consider short positions from corrections below the level of 0.9304 with a target of 0.8900 – 0.8800.

Alternative scenario: breakout and consolidation above the level of 0.9304 will allow the pair to continue rising to the levels of 0.9398 – 0.9497.

Analysis: Presumably, a descending third wave of larger degree (3) continues developing on the daily time frame, with wave 1 of (3) forming inside. Wave v of 1 is developing on the H4 time frame. Wave (iii) of v formed and a local correction is nearing completion in the form of wave (iv) of v inside wave…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>