USD/CHF: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9117 |
| Take Profit | 0.8323, 0.8000 |
| Stop Loss | 0.9240 |
| Key Levels | 0.8000, 0.8323, 0.9240, 0.9578, 0.9819 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9245 |
| Take Profit | 0.9578, 0.9819 |
| Stop Loss | 0.9135 |
| Key Levels | 0.8000, 0.8323, 0.9240, 0.9578, 0.9819 |
The price is in a correction and 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 wave C of (2) is ending, within which the fourth wave of the lower level iv of c of (2) i forming. If the assumption is correct, after the correction, the USD/CHF pair will fall to the area of 0.8323–0.8000. In this scenario, critical stop loss level is 0.9240.
Main scenario
Short positions will become relevant below the level of 0.9240 with the targets at 0.8323–0.8000. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 0.9240 will let the asset grow to the area of 0.9578–0.9819.
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