USD/CHF: wave analysis
09 December 2019, 11:55
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9903 |
| Take Profit | 0.9717, 0.9656 |
| Stop Loss | 1.0022 |
| Key Levels | 0.9656, 0.9717, 1.0022, 1.0121, 1.0230 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0025 |
| Take Profit | 1.0121, 1.0230 |
| Stop Loss | 0.9965 |
| Key Levels | 0.9656, 0.9717, 1.0022, 1.0121, 1.0230 |
The pair may fall.
On the daily chart, an upward correction of the higher level developed as the second wave ii of 1 of (3), and the third wave iii of 1 of (3) forms. Now, the local correction of the lower level (ii) of iii has ended, and the formation of the wave (iii) of iii has begun, within which an entry momentum has formed as the wave i of (iii). If the assumption is correct, after the end of the correction ii of (iii), the pair will fall to the levels of 0.9717–0.9656. In this scenario, critical stop loss level is 1.0022.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0022 with the targets at 0.9717–0.9656. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0022 will let the pair grow to the levels of 1.0121–1.0230.
On the daily chart, an upward correction of the higher level developed as the second wave ii of 1 of (3), and the third wave iii of 1 of (3) forms. Now, the local correction of the lower level (ii) of iii has ended, and the formation of the wave (iii) of iii has begun, within which an entry momentum has formed as the wave i of (iii). If the assumption is correct, after the end of the correction ii of (iii), the pair will fall to the levels of 0.9717–0.9656. In this scenario, critical stop loss level is 1.0022.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0022 with the targets at 0.9717–0.9656. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0022 will let the pair grow to the levels of 1.0121–1.0230.
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