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USD/CHF: wave analysis 12 June 2017, 09:13


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9680
Take Profit 0.9794
Stop Loss 0.9620
Key Levels 0.9500, 0.9550, 0.9610, 0.9794
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9600
Take Profit 0.9550, 0.9500
Stop Loss 0.9650
Key Levels 0.9500, 0.9550, 0.9610, 0.9794

The pair is correcting.
A downward tendency in the third wave of the highest level 3 is likely to be forming within the H4 timeframe. Locally the development of the third wave of the lowest level iii of 3 seems to have ended as an impuls, and the formation of upward correction as wave iv of 3 has started. If the assumption is right, the correction growth of the pair will continue to 0.9794. A critical level for this scenario will be 0.9610.


Trading tips
The pair may bought from corrections above the level of 0.9610 with target at 0.9794.
Alternative scenario
Breaking through the level of 0.9610 and consolidation below it will allow the pair to continue reduction to the level 0.9550-0.9500.
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