Downtrend continues

The bearish correction within wave (2) of senior level continues to form. The wave c of 2 is forming now, with the third wave of junior level (iii) completed and a correction in a form of wave (iv) starting within its borders, supposedly. If this assumption is correct and the price does not break the critical level 0.9591, the pair will continue to decline to a level of 0.9100 after the correction is completed.

Trading tips

Wait for completion of correction and sell the pair below the level of 0.9591 with a target at about 0.9100.

Alternative scenario

Breakout and consolidation above the level of 0.9591 will allow the pair to continue rising to a level of 0.9860.

USD/CHF: wave analysis

USD/CHF: wave analysis




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