FX:USDCHF   U.S. Dollar / Swiss Franc
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The pair may fall.

On the 4-hour chart, the third wave of the higher level iii of 3 of (3) develops, within which the first wave (i) of iii formed. Now, an upward correction has developed as the wave (ii) of iii , shaped as an irregular flat. If the assumption is correct, the pair will fall to the level of 0.9556 and below. In this scenario, critical stop loss level is 0.9838.

Main scenario

Short positions will become relevant during the correction, below the level of 0.9838 with the target at 0.9556. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price above the level of 0.9838 will let the pair grow to the level of 0.9973.

Trade

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 0.9789
Take Profit 0.9556
Stop Loss 0.9838
Key Levels 0.9556, 0.9838, 0.9973

Alternative scenario

Recommendation BUY STOP
Entry Point 0.9845
Take Profit 0.9973
Stop Loss 0.9785
Key Levels 0.9556, 0.9838, 0.9973
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