A decline is still possible.

Assumingly, the third wave iii of C of the senior level continues forming. Locally, the first starting wave (i) and a correction to it as wave (ii) seem to have formed. If the assumption is correct and the price does not break out the critical level of 1.0080, the pair continues falling to 0.9600 within the third wave (iii).

Trading tips

Sell the pair from corrections, below the level of 1.0080 with the target at 0.9600.

Alternative scenario

The breakout and consolidation above the level of 1.0080 would allow the pair to continue growing to 1.0325.

USD/CHF: wave analysis

USD/CHF: wave analysis




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