Technical Analytics Report

USD/CHF: Wave Analysis Report 14 April 2021

USD/CHF: Wave Analysis Report 14 April 2021

The pair is in a correction and may grow. 

On the daily chart, the first downward wave of the higher level (1) of 3 developed, and an upward correction develops as the wave (2). Now, the wave A of (2) is developing, within which the third wave of the lower level iii of A has formed, and a local correction is ending as the wave iv of A. If the assumption is correct, after the end of the correction, the pair will grow to the levels of 0.9500–0.9667. In this scenario, critical stop loss level is 0.9141. 

Main Scenario

 Long positions will become relevant during the correction, above the level of 0.9141 with the targets at 0.9500–0.9667. Implementation period: 7 days and more.

 Alternative Scenario

 The breakdown and the consolidation of the price below the level of 0.9141 will let the pair go down to the levels of 0.9067–0.8870.

 Scenario

 Timeframe: Weekly

Recommendation: Buy

Entry Point: 0.9199

Take Profit: 0.9500, 0.9667

Stop Loss: 0.9141

Key Levels: 0.8870, 0.9067, 0.9141, 0.9500, 0.9667

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 0.9135

Take Profit: 0.9067, 0.8870

Stop Loss: 0.9165

Key Levels: 0.8870, 0.9067, 0.9141, 0.9500, 0.9667


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