A fall possibility remains.

Assumingly, a formation of wave C within the second wave 2 of the senior level continues. At present, a correction in a form of wave (ii) of wave C seems to have finished and the third wave (iii) started developing. If the assumption is correct, the price keeps falling towards the levels of 0.9400, 0.9500. A critical for this scenario is the level of 0.9795.

Trading tips

Sell the pair below the level of 0.9795 with targets at 0.9400, 0.9500.

Alternative scenario

The breakout and consolidation above the level of 0.9795 would allow the pair to grow to 1.0000.

USD/CHF: wave analysis

USD/CHF: wave analysis

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