Technical Analytics Report

USD/CHF: Wave Analysis Report 25 Feb 2021

USDCHF Wave Analysis Report 25 Feb 2021

 

The pair may grow.

On the daily chart, the downward first wave of the higher level (1) of 3 developed, within which the fifth wave 5 of (1) formed. Now, an upward correction has started to develop as the wave (2), within which the first wave of the lower level i of A of (2) is forming. If the assumption is correct, the pair will grow to the levels of 0.9214–0.9316. In this scenario, critical stop loss level is 0.8757.

 Main Scenario

 Long positions will become relevant during the correction, above the level of 0.8757 with the targets at 0.9214–0.9316. Implementation period: 7 days and more.

 Alternative Scenario

 The breakdown and the consolidation of the price below the level of 0.8757 will let the pair go down to the levels of 0.8650–0.8500.

 Scenario

 Timeframe: Weekly

Recommendation: Buy

Entry Point: 0.9059

Take Profit: 0.9214, 0.9316

Stop Loss: 0.9005

Key Levels: 0.8500, 0.8650, 0.8757, 0.9214, 0.9316

 

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 0.8755

Take Profit: 0.8650, 0.8500

Stop Loss: 0.8815

Key Levels: 0.8500, 0.8650, 0.8757, 0.9214, 0.9316

 

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