USD/CHF: wave analysis

The pair may fall.

On the daily chart, the third wave of the higher level 3 of (3) develops, within which the wave i of 3 forms. Now, a local correction is developing as the fourth wave (iv) of i. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 0.9550–0.9500. In this scenario, critical stop loss level is 0.9818.

Main scenario

Short positions will become relevant after the end of the correction, below the level of 0.9818 with the targets at 0.9550–0.9500. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price above the level of 0.9818 will let the pair grow to the levels of 1.0022–1.0145.

Scenario

  • Timeframe

    Weekly

  • Recommendation

    SELL

  • Entry Point

    0.9739

  • Take Profit

    0.9550, 0.9500

  • Stop Loss

    0.9818

  • Key Levels

    0.9500, 0.9550, 0.9818, 1.0022, 1.0145

Alternative scenario

  • Timeframe

    Weekly

  • Recommendation

    BUY STOP

  • Entry Point

    0.9820

  • Take Profit

    1.0022, 1.0145

  • Stop Loss

    0.9752

  • Key Levels

    0.9500, 0.9550, 0.9818, 1.0022, 1.0145

Tifia trading account

Open

USD/CHF forecast for today.