A decline is still possible.

Assumingly, wave C continues forming within the second wave 2 of the senior level. At present, a correction as wave (ii) of C seems to have finished and the third wave (iii) is forming, within which, assumingly, the first wave of the junior level i of (iii) has finished. If the assumption is correct, when the local correction finishes, the pair will continue declining towards 0.9300-0.9200. A critical for this scenario is the level of 0.9840.

Trading tips

Sell the pair from corrections, below the level of 0.9840 with the target at 0.9300-0.9200.

Alternative scenario

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

USD/CHF: wave analysis

USD/CHF: wave analysis

USD/CHF: wave analysis

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