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USDCHF, Elliot Wave Analysis

2/23/2023 10:21 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, a downward correction ended as the second wave (2) of 3, and the wave (3) of 3 develops. Now, the first wave of the lower level 1 of (3) is forming, within which a local correction has ended as the wave ii of 1, and the formation of the wave iii of 1 has started. If the assumption is correct, the USD/CHF pair will grow to the area of 0.9455–0.9600. In this scenario, critical stop loss level is 0.9213.

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