USD/CHF: wave analysis
18 January 2019, 08:32
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9939 |
| Take Profit | 0.9618 |
| Stop Loss | 1.0006 |
| Key Levels | 0.9618, 1.0006, 1.0126 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0010 |
| Take Profit | 1.0126 |
| Stop Loss | 0.9950 |
| Key Levels | 0.9618, 1.0006, 1.0126 |
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 has formed, and the upward correction iv of C is ending. If the assumption is correct, the pair will fall to the level of 0.9618. In this scenario, critical stop loss level is 1.0006.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0006 with the target at 0.9618. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0006 will let the pair grow to the levels of 1.0126.
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 has formed, and the upward correction iv of C is ending. If the assumption is correct, the pair will fall to the level of 0.9618. In this scenario, critical stop loss level is 1.0006.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0006 with the target at 0.9618. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0006 will let the pair grow to the levels of 1.0126.
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