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USDCHF, Elliot Wave Analysis

11/3/2022 11:07 AM

Growth is possible.

On the daily chart, the upward first wave of the higher level (1) of 3 forms, within which the wave 5 of (1) develops. Now, the third wave of the lower level iii of 5 is developing, within which a local correction has ended as the wave (iv) of iii, and the wave (v) of iii has started to develop. 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 0.9840.

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