An upward correction and further decline in the pair are expected

Assumingly, a formation of a downward impulse as a starting first wave (i) is nearing the end. Locally, the fifth wave of the junior level v of (i) seems to be forming. If the assumption is correct, an upward correction and further decline are expected after the fifth wave ends. A critical for this scenario is the level of 1.0329 the breakout of which would allow the pair to continue growing to 1.0400-1.0440.

Trading tips

Sell the pair from corrections, below the level of 1.0329 with the target at 0.9500-0.9400.

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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