The pair is likely to fall

The price failed to continue growth and form 5 waves in the framework of the uptrend. The pair reversed instead and started falling, leaving the ascending structure in the shape of a zigzag. It let us suppose that the decline will continue. Besides, the US Dollar started losing ground against other currencies. Supposedly, the fourth wave within a bearish diagonal-shaped 5-wave structure has finished forming by now. Apparently, the first wave (i) of v is developing locally. If this assumption is correct and the price does not break the critical level 0.9482, it's logical to expect the pair to continue declining to the levels 0.9130–0.8820.

Trading tips

Sell the pair from corrections below the level of 0.9482 with the targets at 0.9130–0.8820.

Alternative scenario

Breakout and consolidation above the level of 0.9482 will allow the pair to continue the rise up to the levels of 0.9600–0.9700.

USD/CHF: wave analysis

USD/CHF: wave analysis




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