A fall possibility remains.

Assumingly, wave C within the second wave 2 of the senior level continues forming. At present, a correction within wave (ii) of C seems to have finished and the third wave (iii) started developing. Locally, the first wave i of (iii) in the shape of a wage seems to have formed and the correction is developing. If the assumption is correct, the price continues falling towards 0.9400, 0.9500 after correction ends. A critical for this scenario is the level of 0.9840.

Trading tips

Sell the pair below the level of 0.9840 with the target at 0.9240.

Alternative scenario

The breakout and consolidation above the level of 0.9840 would allow the pair to grow to 1.0000.

USD/CHF: wave analysis

USD/CHF: wave analysis

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