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USD/CHF: Wave Analysis

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USD/CHF: Wave Analysis
Scenery
TimeframeWeekly
RecommendationSELL
Entry point0.8834
Take Profit0.8000, 0.7700
Stop Loss0.8914
Key levels0.7700, 0.8000, 0.8914, 0.9231, 0.9451
Alternative scenario
RecommendationBUY STOP
Entry point0.8915
Take Profit0.9231, 0.9451
Stop Loss0.8690
Key levels0.7700, 0.8000, 0.8914, 0.9231, 0.9451

The probability of reduction remains.

On the daily chart, the third downward wave of the upper level 3 is developing, within which wave (1) of 3 and correction as wave (2) of 3 were formed, and the downward wave (3) of 3 is also observed. At this time, the first wave of the lower level 1 of (3) and correction as the second wave 2 of (3) are developing, within which wave c of 2 was completed. If the assumption is correct, the USD/CHF pair will fall in wave 3 of (3) in the area of 0.8000–0.7700. The critical stop-loss level for this scenario is 0.8914.

USD/CHF: Wave Analysis

USD/CHF: Wave Analysis

Main stage

Short positions are relevant below the level of 0.8914 with targets at 0.8000–0.7700. Implementation period: 7 days or more.

Alternative scenario

The breakout and consolidation of the price above the level of 0.8914 will allow the trading instrument to continue the bullish dynamics in the area of 0.9231–0.9451.


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