USD/CHF: wave analysis

The pair can grow.

On the 4-hour chart, the downward correction of the higher level developed as a wave 2. Now the formation of the wave 3 has begun, within which the upward momentum is developing as a wave i of 3 of the lower level. If the assumption is correct, the pair will grow within the wave (v) of i to the levels of 0.9982–1.0068. In this scenario, critical stop loss level is 0.9826.

Main scenario

Long positions will become relevant during the correction, above the level of 0.9826 with the targets at 0.9982–1.0068. Implementation period: 5–7 days.

Alternative scenario

The breakdown and the consolidation of the price below the level of 0.9826 will let the pair go down to the levels of 0.9788–0.9748.

Trade

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 0.9915
Take Profit 0.9982, 1.0068
Stop Loss 0.9860
Key Levels 0.9748, 0.9788, 0.9826, 0.9982, 1.0068

Alternative scenario

Recommendation SELL STOP
Entry Point 0.9820
Take Profit 0.9788, 0.9748
Stop Loss 0.9840
Key Levels 0.9748, 0.9788, 0.9826, 0.9982, 1.0068