A fall in the pair is expected.

Assumingly, a development of wave C within the second wave 2 of the senior level continues. Locally, a correction in the second wave (ii) in a shape of a zigzag seems to have finished. If the assumption is correct, the price is going to reverse and fall within the third wave (iii) of a supposed diagonal in the wave C towards 0.9130, 0.9050. A critical for this scenario is a local high at the level of 0.9820.

Trading tips

Sell the pair below the level of 0.9820 with targets at 0.9130, 0.9050.

Alternative scenario

The breakout and consolidation above the level of 0.9820 would allow the pair to grow to 1.0100.

USD/CHF: wave analysis

USD/CHF: wave analysis

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