USD/CHF: wave analysis
20 July 2022, 10:52
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.9685 |
| Take Profit | 1.0200, 1.0350 |
| Stop Loss | 0.9490 |
| Key Levels | 0.9186, 0.9319, 0.9490, 1.0200, 1.0350 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9485 |
| Take Profit | 0.9319, 0.9186 |
| Stop Loss | 0.9545 |
| Key Levels | 0.9186, 0.9319, 0.9490, 1.0200, 1.0350 |
The possibility of growth remains.
On the daily chart, the development of the third wave of the higher level 3 of (3) continues, in which wave iii of 3 formed and the correction ended as the fourth wave iv of 3. At the moment, the construction of the fifth wave v of 3 is underway, in which the first wave of the lower level (i) of v has already appeared, and the development of a local correction as a wave (ii) of v is also being completed. If the assumption is correct, USD/CHF will rise to the levels of 1.0200–1.0350. The level of 0.9490 is critical and stop-loss for this scenario.
Main scenario
Long positions are relevant from the corrections above level of 0.9490 with targets at 1.0200–1.0350. Implementation time: 7 days and more.
Alternative scenario
Breakdown and consolidation of the price below the level of 0.9490 will allow the trading instrument to continue its downtrend to the levels of 0.9319–0.9186.