USD/CHF: wave analysis
05 December 2018, 08:35
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9998 |
| Take Profit | 0.9859, 0.9724 |
| Stop Loss | 1.0045 |
| Key Levels | 0.9724, 0.9859, 1.0045, 1.0122 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0050 |
| Take Profit | 1.0122 |
| Stop Loss | 1.0020 |
| Key Levels | 0.9724, 0.9859, 1.0045, 1.0122 |
The pair may decrease.
On the 4-hour chart, the downward correction of the higher level develops as a wave (2), within which the wave C of (2) is forming. Now the first wave of the lower level i of C of (2) has formed, and the local correction is developing as a wave ii of C. If the assumption is correct, after the end of the correction the pair will fall to the levels of 0.9859–0.9724. In this scenario, critical stop loss level is 1.0045.
Main scenario
Short positions will become relevant after the end of the correction, below the level of 1.0045 with the targets at 0.9859–0.9724. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0045 will let the pair grow to the level of 1.0122.
On the 4-hour chart, the downward correction of the higher level develops as a wave (2), within which the wave C of (2) is forming. Now the first wave of the lower level i of C of (2) has formed, and the local correction is developing as a wave ii of C. If the assumption is correct, after the end of the correction the pair will fall to the levels of 0.9859–0.9724. In this scenario, critical stop loss level is 1.0045.
Main scenario
Short positions will become relevant after the end of the correction, below the level of 1.0045 with the targets at 0.9859–0.9724. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0045 will let the pair grow to the level of 1.0122.
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