USD/CHF: Wave Analysis Report 20 May 2021

EnclaveFX Ltd
May 20, 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) has formed, and a local correction is ending as the wave B of (2), within which the development of the wave c of B is ending. 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 0.8751.

Main Scenario

Long positions will become relevant after the end of the correction, above the level of 0.8751 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 0.8751 will let the pair go down to the levels of 0.8600–0.8400.


Timeframe: Weekly

Recommendation: Buy

Entry Point: 0.9039

Take Profit: 0.9500, 0.9667

Stop Loss: 0.8751

Key Levels: 0.8400, 0.8600, 0.8751, 0.9500, 0.9667

Alternative Scenario

Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 0.8750

Take Profit: 0.8600, 0.8400

Stop Loss: 0.8810

Key Levels: 0.8400, 0.8600, 0.8751, 0.9500, 0.9667


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