OANDA:USDCHF   US-Dollar / Schweizer Franken
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The trend is downward.

On the 4-hour chart, the downward trend within the first wave 1 of (3) of the higher level is developing. At the moment the third wave of the lower level iii             of 1 has formed as a momentum, and the upward correction as a wave iv of 1 is developing. If the assumption is correct, the pair will fall to the level of 0.9120 after the end of the correction. The level of 0.9528 is critical for this scenario.

Main scenario

Short positions will become relevant after the end of the correction below the level of 0.9528 with the target at 0.9120.

Alternative scenario

The breakout and the consolidation of the price above the level of 0.9528 will let the pair grow to the level of 0.9615.

Trade

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 0.9368
Take Profit 0.9120
Stop Loss 0.9205
Key Levels 0.9120, 0.9528, 0.9615

Alternative scenario

Recommendation BUY STOP
Entry Point 0.9535
Take Profit 0.9615
Stop Loss 0.9475
Key Levels 0.9120, 0.9528, 0.9615
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