Wednesday, July 13, 2016

USD/CHF: wave analysis


Fall is expected.
Assumingly, an upward correction as the second wave (ii) which has taken the shape of a zigzag abc continues forming. At present, development of wave c of (ii) seems to be nearing the end, and if the assumption is correct, a fall in the third wave (iii) towards 0.9510-0.9300 should be expected. Critical for this scenario is the level of 0.9951.
Trading tips
Sell the pair form corrections, below the level of 0.9951 with the target at 0.9510-0.9300.
Alternative scenario
The breakout and consolidation above the level of 0.9951 would allow the pair to grow to 1.0000-1.0100.


Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 0.9877
Take Profit 0.9510, 0.9300
Stop Loss 0.9970
Key Levels 0.9300, 0.9510, 0.9951, 1.0000, 1.0100

Alternative scenario

Recommendation BUY STOP
Entry Point 0.9960
Take Profit 1.0000, 1.0100
Stop Loss 0.9860
Key Levels 0.9300, 0.9510, 0.9951, 1.0000, 1.0100
with
 M Samer Al Reifae
Official HiWayFX Representative in Romania
samer@hiwayfx.com
+40 734 277 757
- YOU WILL NEVER TRADE ALONE -

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