USD/CHF: wave analysis
21 December 2018, 08:36
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9872 |
| Take Profit | 0.9724, 0.9618 |
| Stop Loss | 0.9956 |
| Key Levels | 0.9618, 0.9724, 0.9956, 1.0122 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9960 |
| Take Profit | 1.0122 |
| Stop Loss | 0.9900 |
| Key Levels | 0.9618, 0.9724, 0.9956, 1.0122 |
The pair may fall.
On the 4-hour chart, a downward correction of the higher level develops as the wave (2), within which the wave C of (2) forms. Now, the third wave iii of C is forming, within which the wave of the lower level (iii) of iii is developing. If the assumption is correct, the pair will fall to the levels of 0.9724–0.9618. In this scenario, critical stop loss level is 0.9956.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9956 with the targets at 0.9724–0.9618. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9956 will let the pair grow to the level of 1.0122.
On the 4-hour chart, a downward correction of the higher level develops as the wave (2), within which the wave C of (2) forms. Now, the third wave iii of C is forming, within which the wave of the lower level (iii) of iii is developing. If the assumption is correct, the pair will fall to the levels of 0.9724–0.9618. In this scenario, critical stop loss level is 0.9956.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9956 with the targets at 0.9724–0.9618. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9956 will let the pair grow to the level of 1.0122.
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