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USDCHF, Elliot Wave Analysis

9/8/2022 11:35 AM

A fall is possible.

On the daily chart, the downward fifth wave of the higher level 5 develops, within which the first wave (1) of 5 forms. Now, the first wave of the lower level 1 of (1) has formed, and a local correction has ended as the second wave 2 of (1), within which the wave c of 2 has developed. If the assumption is correct, the USD/CHF pair will fall within the wave 3 of (1) to the area of 0.9200–0.8916. In this scenario, critical stop loss level is 0.9889.






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