Sep 16, 2020, 7:43:21 AM
USD/CHF: wave analysis
The pair may grow.
On the daily chart, the third wave of the higher level (3) develops, within which the wave 1 of (3) forms. Now, the fifth wave of the lower level v of 1 is developing, within which the wave (iii) of v has formed, and an upward correction is developing as the wave (iv) of v. If the assumption is correct, the pair will grow to the levels of 0.9242–0.9302. In this scenario, critical stop loss level is 0.8998.
Main scenario
Long positions will become relevant during the correction, above the level of 0.8998 with the targets at 0.9242–0.9302. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.8998 will let the pair go down to the levels of 0.8900–0.8800.
Scenario
-
Timeframe
Weekly
-
Recommendation
BUY
-
Entry Point
0.9078
-
Take Profit
0.9242, 0.9302
-
Stop Loss
0.8998
-
Key Levels
0.8800, 0.8900, 0.8998, 0.9242, 0.9302
Alternative scenario
-
Timeframe
Weekly
-
Recommendation
SELL STOP
-
Entry Point
0.8995
-
Take Profit
0.8900, 0.8800
-
Stop Loss
0.9025
-
Key Levels
0.8800, 0.8900, 0.8998, 0.9242, 0.9302
