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USD/JPY: upward momentum maintains 20 September 2019, 14:15

USD/JPY: upward momentum maintains 20 September 2019, 14:15 Scenario Timeframe Weekly Recommendation BUY Entry Point 1...

Sep 11, 2019

USD/CHF: wave analysis 11 September 2019, 09:34


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9918
Take Profit 0.9975, 1.0010
Stop Loss 0.9865
Key Levels 0.9556, 0.9656, 0.9797, 0.9975, 1.0010
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9790
Take Profit 0.9656, 0.9556
Stop Loss 0.9850
Key Levels 0.9556, 0.9656, 0.9797, 0.9975, 1.0010
The pair may grow.
On the daily chart, the third wave of the higher level (3) develops, within which the first wave 1 of (3) forms. Now, a local correction is developing as the wave ii of 1, taking a shape of an irregular flat, within which the wave (c) of ii is forming. If the assumption is correct, in the short term, the pair will grow to the levels of 0.9975–1.0010. In this scenario, critical stop loss level is 0.9797.



Main scenario
Long positions will become relevant during the correction, above the level of 0.9797 with the targets at 0.9975–1.0010. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.9797 will let the pair go down to the levels of 0.9656–0.9556.

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