USD/CHF: analysis on 08.06.2015

June 8, 2015

The pair is likely to fall.

Supposedly, the fifth wave continues to form within a bearish diagonal-shaped 5-wave structure. Apparently, the first wave (i) of v and its correction as wave (ii) have been formed locally. If this assumption is correct and the price does not break the critical level 0.9542, it's logical to expect the pair to continue declining to the levels 0.9130–0.8820.

Trading tips

Sell the pair from corrections below the level of 0.9542 with the targets at 0.9130–0.8820. Buy the pair with a target at 0.9600–0.9700 in case the level 0.9542 is broken.

Alternative scenario

Breakout and consolidation above the level of 0.9542 will allow the pair to continue the rise up to the levels of 0.9600–0.9700.

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