The pair is still likely to fall.

Supposedly, the fifth wave continues to form within a bearish diagonal-shaped 5-wave structure. Apparently, a correction of junior level in a form of wave (ii) of v has finished locally and the third wave has started to develop. If this assumption is correct and the price does not break the critical level 0.9500, 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 0.9500 with targets at 0.9130–0.8820.

Alternative scenario

Breakout and consolidation above the level of 0.9500 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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