The uptrend is strong; locally, the pair is in the correction.

Assumingly, the formation of the third wave of the senior level 3 continues, within which the development of the third wave of the junior level (iii) of iii of 3 has finished. Locally, a correction (iv) of iii is likely to be forming. If the assumption is correct, when the correction finishes, the pair would continue growing towards 0.9950. The critical for this scenario is the level of 0.9716.

Trading tips

Sell the pair below 0.9716, with the target at 0.9521. If the level of 0.9716 is broken through, buy the pair with the target at 0.9950.

Alternative Scenario

The breakdown and consolidation above 0.9716 would allow the pair to grow further to 0.9950.

USD/CHF: wave analysis

USD/CHF: wave analysis

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