USD/CHF Expected to Rise Further According to Elliott Wave Analysis

The USD/CHF currency pair is expected to rise further according to an analysis based on the Elliott Wave Theory. The main scenario suggests that long positions can be considered from corrections above 0.8044, targeting a range of 0.8278-0.8400. A buy signal will occur if the price holds above 0.8044.

However, an alternative scenario indicates that a breakout and consolidation below 0.8044 could lead to a decline in the pair's value to levels between 0.7755-0.7600. This would trigger a sell signal if the level of 0.8044 is broken to the downside.

According to the analysis, a bearish fifth wave of larger degree 5 is developing on the weekly time frame, with wave (5) of 5 forming as its part. An ascending correction continues to develop as the fourth wave 4 of (5), within which wave c of 4 is unfolding.

The level of 0.8044 is critical in this scenario, and a breakout below it will allow the pair to continue falling to the specified levels. This forecast relies on fundamental factors, but it's essential to consider them as the market situation can change at any time.