USD/CHF: wave analysis
05 August 2019, 09:59
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9783 |
| Take Profit | 0.9556, 0.9188 |
| Stop Loss | 0.9977 |
| Key Levels | 0.9188, 0.9556, 0.9977, 1.0099, 1.0229 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9980 |
| Take Profit | 1.0099, 1.0229 |
| Stop Loss | 0.9920 |
| Key Levels | 0.9188, 0.9556, 0.9977, 1.0099, 1.0229 |
The pair may fall.
On the daily chart, the upward correction of the higher level developed as the second wave (2). Now, the development of the third wave (3) has begun, within which the first wave 1 of (3) is developing. If the assumption is correct, the pair will fall to the levels of 0.9556–0.9188. In this scenario, critical stop loss level is 0.9977.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9977 with the targets at 0.9556–0.9188. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9977 will let the pair grow to the levels of 1.0099–1.0229.
On the daily chart, the upward correction of the higher level developed as the second wave (2). Now, the development of the third wave (3) has begun, within which the first wave 1 of (3) is developing. If the assumption is correct, the pair will fall to the levels of 0.9556–0.9188. In this scenario, critical stop loss level is 0.9977.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9977 with the targets at 0.9556–0.9188. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9977 will let the pair grow to the levels of 1.0099–1.0229.
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