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USD/CHF: Wave Analysis 03 March 2021

USD/CHF: Wave Analysis 03 March 2021

The pair may grow.

 On the daily chart, the first downward wave of the higher level (1) of 3 developed, and an upward correction started to develop as the wave (2). Now, the wave A of (2) is forming, within which the first wave of the lower level i of A has formed. If the assumption is correct, the pair will grow to the levels of 0.9320–0.9400. In this scenario, critical stop loss level is 0.8922.

 Main Scenario

 Long positions will become relevant during the correction, above the level of 0.8922 with the targets at 0.9320–0.9400. Implementation period: 7 days and more.

 Alternative Scenario

 The breakdown and the consolidation of the price below the level of 0.8922 will let the pair go down to the levels of 0.8755–0.8650.

 Scenario

 Timeframe: Weekly

Recommendation: Buy

Entry Point: 0.9151

Take Profit: 0.9320, 0.9400

Stop Loss: 0.9090

Key Levels: 0.8650, 0.8755, 0.8922, 0.9320, 0.9400

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 0.8920

Take Profit: 0.8755, 0.8650

Stop Loss: 0.8980

Key Levels: 0.8650, 0.8755, 0.8922, 0.9320, 0.9400

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