USD/CHF: wave analysis
03 June 2019, 09:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9986 |
| Take Profit | 0.9894, 0.9814 |
| Stop Loss | 1.0045 |
| Key Levels | 0.9814, 0.9894, 1.0100, 1.0241 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0110 |
| Take Profit | 1.0241 |
| Stop Loss | 1.0050 |
| Key Levels | 0.9814, 0.9894, 1.0100, 1.0241 |
The pair may fall.
On the 4-hour chart, the first wave i of 3 formed, and the local correction ii of 3 develops. Now, the wave (a) of ii of the lower level has formed, and the wave (b) of ii has ended. If the assumption is correct, the pair will fall within the wave (c) of ii to the levels of 0.9894–0.9814. In this scenario, critical stop loss level is 1.0100.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0100 with the targets at 0.9894–0.9814. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0100 will let the pair grow to the level of 1.0241.
On the 4-hour chart, the first wave i of 3 formed, and the local correction ii of 3 develops. Now, the wave (a) of ii of the lower level has formed, and the wave (b) of ii has ended. If the assumption is correct, the pair will fall within the wave (c) of ii to the levels of 0.9894–0.9814. In this scenario, critical stop loss level is 1.0100.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0100 with the targets at 0.9894–0.9814. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0100 will let the pair grow to the level of 1.0241.
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