A decline is expected.

Assumingly, an upward impulse within wave (c) of y of B has finished forming. Locally, a starting wave of the junior level seems to be forming. If the assumption is correct, the pair continues declining to 1.0100-1.0000 and lower. A critical for this scenario is the level of 1.0329, the breakout of which would allow the pair to grow to 1.0400-1.0440.

Trading tips

Sell the pair below the level of 1.0329 with the target at 1.0100-1.0000.

Alternative scenario

The breakout and consolidation above the level of 1.0329 would allow the pair to continue growing to 1.0400-1.0440.

USD/CHF: wave analysis

USD/CHF: wave analysis




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