USDCHF: Elliott wave analysis and forecast for 12.05.23 – 19.05.23
Main scenario: consider short positions from corrections below the level of 0.8995 with a target of 0.8704 – 0.8520.
Alternative scenario: breakout and consolidation above the level of 0.8995 will allow the pair to continue rising to the levels of 0.9121 – 0.9220.
Analysis: an ascending correction of larger degree is formed as the fourth wave (4) on the daily chart. A bearish fifth wave (5) started unfolding. The first wave of smaller degree 1 of (5) is presumably developing on the H4 chart, with wave iii of 1 continuing forming inside. On the H1 chart, apparently, there's wave (iii)... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/41zmScm
