USDCHF: Elliott wave analysis and forecast for 01.03.24 – 08.03.24

Main scenario: consider long positions from corrections above the level of 0.8775 with a target of 0.9020 – 0.9240. Alternative scenario: breakout and consolidation below the level of 0.8775 will allow the pair to continue declining to the levels of 0.8200 – 0.8050.Analysis: the downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame, with wave 1 of (5) formed as its part. A bullish correction is completed as second wave 2 of (5). The third wave