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USDCHF: Elliott wave analysis and for 09.08.24 – 16.08.24
A downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame. As its parts, wave 1 of (5) is formed, a bullish correction is completed as the second wave 2 of (5), and the third wave 3 of (5) started unfolding. On the H4 time frame, a correction finished developing in the form of the second wave of smaller degree ii of 3, and the third wave iii of 3 is forming. On the H1 time frame, wave (iii) of iii appears to have formed, and a local correction is unfolding as wave (iv) of iii. Upon its completion, if the presumption is correct, the USDCHF pair will continue falling to 0.8325 – ... (full story)
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- Posted: Aug 9, 2024 9:46am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 2,912
