The pair is in a correction.

Assumingly, the third wave of the junior level iii of 3 has finished developing. Locally, a correction as the fourth wave to the levels of 0.9600-0.9540 seems to be forming, within which a starting impetus (a) has formed. If the assumption is correct, after the small correction (b) it is logical to expect the pair to continue falling. A critical for this scenario is the level of the local high 0.9900.

Trading tips

Sell the couple from corrections, below 0.9900, with the target at 0.9600-0.9540.

Alternative scenario

The breakout and consolidation above 0.9900 will allow the pair to continue growing to 1.0000.

USD/CHF: wave analysis

USD/CHF: wave analysis

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