Short term Elliott Wave View in $USDCHF suggests that the decline from 10.21.2022 high is in progress as 5 waves impulse Elliott Wave structure. Down from 10.21.2022 high, wave 1 ended at 0.9841 and rally in wave 2 ended at 1.0147. Pair then resumed lower in wave 3 towards 0.935 and rally in wave 4 ended at 0.9598.
Wave 5 lower is in progress with internal subdivision as an impulse in lesser degree. Down from wave 4, wave (i) ended at 0.9484 and rally in wave (ii) ended at 0.9533. Pair resumed lower in wave (iii) towards 0.9409, wave (iv) ended at 0.943, and wave (v) of ((i)) ended at 0.938. USDCHF then corrected in wave ((ii)) which ended at 0.9547. Pair resumed lower in wave ((iii)) with subdivision as another impulse. Down from wave ((ii)), wave (i) ended at 0.9465 and wave (ii) ended at 0.954. Pair then resumed lower in wave (iii) towards 0.933, wave (iv) ended at 0.937, and wave (v) of ((iii)) ended at 0.932. Wave ((iv)) is in progress as a zigzag where wave (a) ended at 0.944 and pullback in wave (b) ended at 0.9325. Expect wave (c) of ((iv)) to complete at 0.944 – 0.952 area before pair resumes lower.
