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USDCHF, Elliot Wave Analysis

10/12/2022 11:34 AM

Growth is possible.

On the daily chart, a downward correction ended as the second wave of the higher level 2, and the formation of the upward third wave 3 started, within which the wave (1) of 3 develops. Now, the fifth wave of the lower level 5 of (1) is forming, and the wave iii of 3 is developing. If the assumption is correct, the USD/CHF pair will grow to the area of 1.0200–1.0300. In this scenario, critical stop loss level is 0.9716.

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