USD/CHF: WAVE ANALYSIS
| Script | |
|---|---|
| Time frame | Weekly |
| Recommendation | SELL |
| Entry point | 0.8485 |
| Take Profit | 0.8000, 0.7700 |
| Cut loss | 0.8903 |
| Level of importance | 0.7700, 0.8000, 0.8903, 0.9210, 0.9440 |
| Other options | |
|---|---|
| Recommendation | BUY STOP |
| Entry point | 0.8905 |
| Take Profit | 0.9210, 0.9440 |
| Cut loss | 0.8805 |
| Level of importance | 0.7700, 0.8000, 0.8903, 0.9210, 0.9440 |
Price is in correction zone, possibility of decline is maintained.
On the daily chart, the third down wave of the major degree 3 is developing, within which wave (1) of 3 has formed, the correction has ended in the form of wave (2) of 3, and the down wave (3) of 3 is being recorded. Currently, the first wave of the minor degree 1 of (3) has ended, and the correction continues in the form of the second wave 2 of (3). If this assessment is correct, the USD/CHF rate will decline to the zone of 0.8000–0.7700. The maximum stop loss for this scenario is 0.8903.
Main script
Consider opening a sell order below 0.8903, with a target to take profit in the 0.8000–0.7700 zone. Timeframe: 7 days or more.
Alternative scenario
The breakout and consolidation above the 0.8903 level allowed the instrument to continue the uptrend towards the 0.9210–0.9440 zone.
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