USD/CHF: wave analysis
28 July 2022, 11:46
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.9582 |
| Take Profit | 1.0200, 1.0350 |
| Stop Loss | 0.9490 |
| Key Levels | 0.9186, 0.9319, 0.9490, 1.0200, 1.0350 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9485 |
| Take Profit | 0.9319, 0.9186 |
| Stop Loss | 0.9545 |
| Key Levels | 0.9186, 0.9319, 0.9490, 1.0200, 1.0350 |
Growth is possible.
On the daily chart, the third wave of the higher level 3 of (3) develops, within which the wave iii of 3 formed, and a correction ended as the fourth wave iv of 3. Now, the fifth wave v of 3 is developing, within which the first wave of the lower level (i) of v has appeared, and a local correction has ended as the wave (ii) of v. If the assumption is correct, the USD/CHF pair will grow to the area of 1.0200–1.0350. In this scenario, critical stop loss level is 0.9490.
Main scenario
Long positions will become relevant after the end of the correction, above the level of 0.9490 with the targets at 1.0200–1.0350. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9490 will let the asset go down to the levels of 0.9319–0.9186.
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