A decline is expected.

Assumingly, wave C within the second wave 2 of the senior level continues forming. At present, a starting wave i of (iii) seems to have formed and correction ii has, presumably, finished. If the assumption is correct, the price continues declining to 0.9400-0.9500. A critical for this scenario is the level of 0.9900.

Trading tips

Sell the pair after the breakdown of the level of 0.9665 with the target at 0.9400-0.9500.

Alternative scenario

The breakout and consolidation above the level of 0.9900 would allow the pair to grow further to 1.0000.

USD/CHF: wave analysis

USD/CHF: wave analysis

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