USD/CHF: wave analysis
13 December 2018, 10:30
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9918 |
| Take Profit | 0.9724, 0.9618 |
| Stop Loss | 1.0008 |
| Key Levels | 0.9618, 0.9724, 1.0008, 1.0122 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0015 |
| Take Profit | 1.0122 |
| Stop Loss | 0.9955 |
| Key Levels | 0.9618, 0.9724, 1.0008, 1.0122 |
The probability of decline remains.
On the H4 chart, the downward correction of the higher level continues as a wave (2), which includes the formation of the wave C of (2). At the moment, it seems that the local correction ii of C has completed, and the third wave iii of C has begun. If the assumption is correct, the pair will continue to decline to 0.9724-0.9618. The critical level for this scenario is 1.0008.
Main scenario
Short positions will become relevant below the level of 1.0008 with a target in the range of 0.9724–0.9618. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.0008 will enable the pair to continue to rise to the level of 1.0122.
On the H4 chart, the downward correction of the higher level continues as a wave (2), which includes the formation of the wave C of (2). At the moment, it seems that the local correction ii of C has completed, and the third wave iii of C has begun. If the assumption is correct, the pair will continue to decline to 0.9724-0.9618. The critical level for this scenario is 1.0008.
Main scenario
Short positions will become relevant below the level of 1.0008 with a target in the range of 0.9724–0.9618. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.0008 will enable the pair to continue to rise to the level of 1.0122.
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