USDCHF: Elliott wave analysis and forecast for 29.09.23 – 06.10.23

Main scenario: consider long positions above the level of 0.8929 when the correction completes with a target of  0.9352 – 0.9540.

Alternative scenario: breakout and consolidation below the level of  0.8929 will allow the pair to continue declining to the levels of 0.8542 – 0.8250.

Analysis: an ascending correction of a larger degree is formed as the fourth wave (4) in the daily chart. A bearish fifth wave (5) is unfolding. The first wave of smaller degree 1 of (5) has presumably formed in the H4 time frame chart, and a bullish correction started unfolding as second wave 2 of… Read full author’s opinion and review in blog of #LiteFinance