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USDCHF, Elliot Wave Analysis

1/18/2023 10:20 AM

Growth is possible.

On the daily chart, the third wave of the higher level 3 develops, within which the upward first wave (1) of 3 formed, and a downward correction ended as the second wave (2) of 3. Now, the wave C of (2) has ended, and the development of the upward wave (3) of 3 has started, within which the first entry wave of the lower level i of 1 of (3) has formed. If the assumption is correct, the USD/CHF pair will grow to the area of 0.9900–1.0147. In this scenario, critical stop loss level is 0.9164.

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