USD/CHF: wave analysis
05 April 2018, 09:22
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.9618 |
| Take Profit | 0.9710 |
| Stop Loss | 0.9555 |
| Key Levels | 0.9180, 0.9523, 0.9710 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9520 |
| Take Profit | 0.9180 |
| Stop Loss | 0.9635 |
| Key Levels | 0.9180, 0.9523, 0.9710 |
The pair can grow.
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2, within which the third wave of the lower level (іii) of c is developing, is forming. If the assumption is correct, the pair will grow to the level of 0.9710. The level of 0.9523 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9523 with the target at 0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9523 will let the pair go down to the level of 0.9180.
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2, within which the third wave of the lower level (іii) of c is developing, is forming. If the assumption is correct, the pair will grow to the level of 0.9710. The level of 0.9523 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9523 with the target at 0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9523 will let the pair go down to the level of 0.9180.
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