USDCHF: Elliott wave analysis and forecast for 01.03.24 – 08.03.24
Main scenario: consider long positions from corrections above the level of 0.8775 with a target of 0.9020 – 0.9240. Alternative scenario: breakout and consolidation below the level of 0.8775 will allow the pair to continue declining to the levels of 0.8200 – 0.8050. 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 completed as second wave 2 of (5). The third wave 3 of (5) started developing on the H4 chart, with the first wave of smaller degree i... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 0.8775 with a target of 0.9020 – 0.9240.
Alternative scenario: breakout and consolidation below the level of 0.8775 will allow the pair to continue declining to the levels of 0.8200 – 0.8050.
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 completed as second wave 2 of (5). The third wave 3 of (5) started developing on the H4 chart, with the first wave of smaller degree i... Read full author’s opinion and review in blog of #LiteFinance
