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USDCHF, Elliot Wave Analysis

8/11/2022 11:07 AM

A fall is possible.

On the weekly chart, the downward fifth wave of the higher level V develops, within which a local correction ended as the fourth wave 4 of V, and the wave 5 of V started. Now, the first wave of the lower level (1) of 5 is developing, within which the wave 3 of (1) is forming. If the assumption is correct, the USD/CHF pair will fall to the area of 0.8916–0.8730. In this scenario, critical stop loss level is 0.9647.

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