A downward trend is strong.

Assumingly, a downward impulse within the first wave (i) has finished forming. Locally, a correction (ii) seems to be forming and if the assumption is correct, the pair continues falling after it ends. The critical for this scenario is the level of 1.0329, a breakout of which would lead to a growth to 1.0400, 1.0440.

Trading tips

Sell the pair below the level of 1.0329 with targets at 0.9500, 0.9400.

Alternative scenario

The breakout and consolidation above the level of 1.0329 would allow the pair to grow to 1.0400, 1.0440.

USD/CHF: wave analysis

USD/CHF: wave analysis

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