Technical Analytics Report

USD/CHF: Wave Analysis Report 17 March 2021

USD/CHF: Wave Analysis Report 17 March 2021

 

The pair is in a correction, a fall is possible.

 On the daily chart, the downward first wave of the higher level (1) of 3 developed, and the upward correction develops as the wave (2). Now, the wave A of (2) has formed, within which the fifth wave of the lower level v of A has ended, and a downward correction has started to develop as the wave B of (2). If the assumption is correct, the pair will fall to the levels of 0.9067–0.8992. In this scenario, critical stop loss level is 0.9375.

 Main Scenario

 Short positions will become relevant during the correction, below the level of 0.9375 with the targets at 0.9067–0.8992. Implementation period: 7 days and more.

 Alternative Scenario

 The breakout and the consolidation of the price above the level of 0.9375 will let the pair grow to the levels of 0.9495–0.9667.

 Scenario

 Timeframe: Weekly

Recommendation: Sell

Entry Point: 0.9257

Take Profit: 0.9067, 0.8992

Stop Loss: 0.9375

Key Levels: 0.8992, 0.9067, 0.9375, 0.9495, 0.9667

 Alternative scenario 

Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 0.9380

Take Profit: 0.9495, 0.9667

Stop Loss: 0.9320

Key Levels: 0.8992, 0.9067, 0.9375, 0.9495, 0.9667 


Would you like to download this report?