A downtrend is strong.

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

Trading tips

Wait for the correction to finish and sell the pair 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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