The base channel one of the most Elliott tools ignored

FX:EURCHF   Euro / Swiss Franc
431 0
Here we can see the chance of an impulse developing to the upside, as the wave ii had overlapped the wave i), it can't be the iv), so the most probable is that wave iii ) is extending into a new wave.
The wave iii is now at the testing of strenght point, must remain above the base channel to indicate that this strenght has not decreased at least to reach the minimum normal target of 161.8

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