USD/CHF: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.8612 |
| Take Profit | 0.8450, 0.8300 |
| Stop Loss | 0.8670 |
| Key Levels | 0.8300, 0.8450, 0.8812, 0.8944, 0.9110 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.8815 |
| Take Profit | 0.8944, 0.9110 |
| Stop Loss | 0.8755 |
| Key Levels | 0.8300, 0.8450, 0.8812, 0.8944, 0.9110 |
A fall is possible.
On the daily chart, the downward third wave of the higher level 3 develops, within which the wave (1) of 3 formed, and an upward correction ended as the wave (2) of 3. Now, the development of the wave (3) of 3 started, within which the first wave of the lower level 1 of (3) is forming. If the assumption is correct, the USD/CHF pair will fall to the area of 0.8450–0.8300. In this scenario, critical stop loss level is 0.8812.
Main scenario
Short positions will become relevant below the level of 0.8812 with the targets at 0.8450–0.8300. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 0.8812 will let the asset grow to the area of 0.8944–0.9110.
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