An upward trend is nearing the end.

The formation of an upward impulse within wave (c) of y of B is nearing the end. Locally, there seems to be the development of the fifth wave of the junior level v of (c) within which an extension is forming that seems to finish with a wedge. If the assumption is correct, the pair turns down and starts declining in the short term.

Trading tips

The breakdown and consolidation below the level of 1.0139 allow the pair to continue declining to 0.9800.

Alternative scenario

At present, long positions are risky. Nevertheless, the consolidation above the level of 1.0310 might lead to a growth to 1.0400 and 1.0450.

USD/CHF: wave analysis

USD/CHF: wave analysis

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