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USDCHF, Elliot Wave Analysis

11/23/2022 10:16 AM

Growth is possible.

On the daily chart, the first upward wave of the higher level (1) of 3 forms, within which the wave 3 of (1) formed, and a local correction ended as the fourth wave 4 of (1). Now, the development of the fifth wave 5 of (1) has started, within which the first entry wave of the lower level i of 5 is developing. If the assumption is correct, the USD/CHF pair will grow to the area of 1.0054–1.0200. In this scenario, critical stop loss level is 0.9350.

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