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

On the 4-hour chart, the first wave i of 3 formed, and the local correction ii of 3 ended. Now, the wave (c) of ii of the lower level has formed as a momentum, and the development of the wave iii of 3 is beginning. If the assumption is correct, the pair will grow to the levels of 1.0241–1.0400. In this scenario, critical stop loss level is 0.9848.

Main scenario

Long positions will become relevant during the correction, above the level of 0.9848 with the targets at 1.0241–1.0400. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 0.9848 will let the pair go down to the level of 0.9715.

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 0.9903
Take Profit 1.0241, 1.0400
Stop Loss 0.9848
Key Levels 0.9715, 0.9848, 1.0241, 1.0400

Alternative scenario

Recommendation SELL STOP
Entry Point 0.9840
Take Profit 0.9715
Stop Loss 0.9900
Key Levels 0.9715, 0.9848, 1.0241, 1.0400
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