Tuesday, April 19, 2016

USD/CHF: Wave Analysis


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9619
Take Profit 0.9900, 1.0000
Stop Loss 0.9520
Key Levels 0.9200, 0.9300, 0.9500, 0.9900, 1.0000
 
Alternative Scenario
Recommendation SELL STOP
Entry Point 0.9490
Take Profit 0.9300, 0.9200
Stop Loss 0.9590
Key Levels 0.9200, 0.9300, 0.9500, 0.9900, 1.0000
A growth possibility remains.
Assumingly, a wedge in the first wave i of C has formed. At present, an upward correction in wave ii of C seems to have started, within which a starting impulse i of (a) has formed. If the assumption is correct, the pair continues growing towards 0.9900, 1.0000. Critical for this scenario is the level of 0.9500.

Trading Tips
Buy the pair above the level of 0.9500 with targets at 0.9900, 1.0000.

Alternative Scenario
The breakdown and consolidation below the level of 0.9500 would allow the pair to fall to 0.9300, 0.9200.



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