USD/CHF: wave analysis
17 August 2018, 09:36
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9963 |
| Take Profit | 0.9818 |
| Stop Loss | 1.0068 |
| Key Levels | 0.9818, 1.0068, 1.0115, 1.0180 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9825 |
| Take Profit | 1.0115, 1.0180 |
| Stop Loss | 0.9730 |
| Key Levels | 0.9818, 1.0068, 1.0115, 1.0180 |
The pair is in a correction, the fall is possible.
On the 4-hour chart, the first wave of the higher level 1 formed, and the downward correction develops as a wave 2. Now the local correction of the lower level b of 2 is ending. If the assumption is correct, the pair will fall to the level of 0.9818. The level of 1.0068 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant after the end of the wave b of 2, below the level of 1.0068 with the target at 0.9818. 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 1.0115–1.0180.
On the 4-hour chart, the first wave of the higher level 1 formed, and the downward correction develops as a wave 2. Now the local correction of the lower level b of 2 is ending. If the assumption is correct, the pair will fall to the level of 0.9818. The level of 1.0068 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant after the end of the wave b of 2, below the level of 1.0068 with the target at 0.9818. 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 1.0115–1.0180.
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