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USDCHF, Elliot Wave Analysis

3/23/2023 10:24 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 ended, a downward correction formed as the second wave (2) of 3, and the development of the upward wave (3) of 3 started. Now, the first wave of the lower level 1 of (3) is developing, within which the wave i of 1 has formed, 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 0.9600–0.9819. In this scenario, critical stop loss level is 0.9091.

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