USD/CHF: wave analysis
09 May 2018, 09:33
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 1.0032 |
| Take Profit | 1.0137, 1.0190 |
| Stop Loss | 0.9998 |
| Key Levels | 0.9850, 0.9927, 0.9998, 1.0137, 1.0190 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9990 |
| Take Profit | 0.9927, 0.9850 |
| Stop Loss | 1.0030 |
| Key Levels | 0.9850, 0.9927, 0.9998, 1.0137, 1.0190 |
The trend is upward.
On the 4-hour chart, the upward momentum is developing as a first wave of the higher level 1 of (3). Now the third wave of the lower level iii of 1 is forming, within which the local correction (iv) of iii has ended. If the assumption is correct, the pair will grow to the levels of 1.0137–1.0190. The level of 0.9998 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9998 with the targets at 1.0137–1.0190. Implementation period: 3–5 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9998 will let the pair go down to the levels of 0.9927–0.9850.
On the 4-hour chart, the upward momentum is developing as a first wave of the higher level 1 of (3). Now the third wave of the lower level iii of 1 is forming, within which the local correction (iv) of iii has ended. If the assumption is correct, the pair will grow to the levels of 1.0137–1.0190. The level of 0.9998 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9998 with the targets at 1.0137–1.0190. Implementation period: 3–5 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9998 will let the pair go down to the levels of 0.9927–0.9850.
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