A fall is expected.

Assumingly, an upward correction within wave ii of C has formed. Locally, the third wave iii seems to be developing, within which a starting wave of the junior level (i) has formed and correction (ii) is finishing. If the assumption is correct and the price does not break out the critical level of 1.0122, the pair continues falling towards 0.9500 in the third wave.

Trading tips

Sell the pair below the level of 1.0122 with the target at 0.9500.

Alternative scenario

The breakout and consolidation above the level of 1.0122 would allow the pair to grow to 1.0200, 1.0300.

USD/CHF: wave analysis

USD/CHF: wave analysis

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