(USD | CHF) Forex Trading Analysis Today Forex Forecast | May 06, 2024 | USDCHF Analysis
Forex Trading Analysis
Hello Guys today is Monday, May 6th, 2024 I am going to analyze USD CHF currency Pair let us start the top-bottom Elliot wave analysis inside the daily time frame the trend is down and USD CHF currency P daily time frame resistance is present at 0.9 223 price level price action is most likely going to rise to print bullish WB pullback and then drop to print bearish wave zigzag corrective leg incoming trading days a decisive bullish breakout above 0.9 223 resistance area is going to end down Trend in Daily chart of USD CHF currency
at 4 Hour time frame price action is printing lower swing highs Ander lower swing lows to me, USD CHF pair Trend looks down in 4hour time frame
In one-hour time frame, the trend is down in 1-hour chart, intraday resistance is present at 0.927 price level price action is the most likely going to rise to print bullish WB pull back and then drop to print bearish wave c zigzag corrective leg which offers a chance to join the downtrend in USD CHF pair a decisive bullish breakout above 0.927 resistance level is going to end downtrend in 1-hour chart of United States dollar versus Frank currency pair
More specifically the red color the highlighted area offers a selling opportunity which is the previous fourth wave one lesser degree
