USDCHF: Elliott wave analysis and forecast for 19.02.2021 – 26.02.2021
Main scenario: consider long positions from corrections above the level of 0.8876 with a target of 0.9115 – 0.9334.
Alternative scenario: breakout and consolidation below the level of 0.8816 will allow the pair to continue declining to the levels of 0.8760 – 0.8600.
Analysis: Presumably, the descending first wave of larger degree (1) of 5 finished developing on the daily time frame, with wave 5 of (1) formed inside. An ascending correction started developing as wave (2) on the H4 time frame, with wave A of (2) forming inside. Apparently, the third wave of smaller degree iii of А and... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/5aXm
