USDCHF: Elliott wave analysis and forecast for 27.10.23 – 03.11.23

Main scenario: consider short positions from corrections below the level of 0.9242 with a target of 0.8807 – 0.8706. 

Alternative scenario: breakout and consolidation above the level of 0.9242 will allow the pair to continue rising to the levels of 0.9352 – 0.9540.

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