USDCHF: Elliott wave analysis and forecast for 01.11.24 – 08.11.24

Highlights and key points Main scenario: consider short positions from corrections below the level of 0.8700 with a target of 0.8200 – 0.8000. A sell signal: if the price holds below 0.8700. Stop Loss: above 0.8750, Take Profit: 0.8200 – 0.8000. Alternative scenario: breakout and consolidation above the level of 0.8700 will allow the pair to continue rising to the levels of 0.9044 – 0.9222. A buy signal: once the level of 0.8700 is broken to the upside. Stop Loss: below 0.8650,