USD/CHF: wave analysis

The pair can grow.

On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the local downward correction (b) of c of 2 has formed. If the assumption is correct, the pair will grow to the level of 0.9612. The level of 0.9421 is critical for this scenario.

Main scenario

Long positions will become relevant above the level of 0.9421 with the target at 0.9612.

Alternative scenario

The breakdown and the consolidation of the price below the level of 0.9421 will let the pair go down to the level of 0.9335.

Trade

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 0.9446
Take Profit 0.9612
Stop Loss 0.9380
Key Levels 0.9335, 0.9421, 0.9612

Alternative scenario

Recommendation SELL STOP
Entry Point 0.9415
Take Profit 0.9335
Stop Loss 0.9475
Key Levels 0.9335, 0.9421, 0.9612