The 3-hour chart of USD/CHF on OANDA shows a potential long opportunity following the completion of a corrective wave (a). The pair is expected to move upwards towards the wave (b) target levels.
Key Levels:
Wave (b) Fibonacci Levels:
0.618 (0.86617)
0.5 (0.86348)
0.382 (0.86079)
Traders could consider entering long positions targeting the 0.618 Fibonacci retracement level, which often acts as a resistance during corrective waves. Stop losses might be placed below the recent lows to manage risk.
Key Levels:
Wave (b) Fibonacci Levels:
0.618 (0.86617)
0.5 (0.86348)
0.382 (0.86079)
Traders could consider entering long positions targeting the 0.618 Fibonacci retracement level, which often acts as a resistance during corrective waves. Stop losses might be placed below the recent lows to manage risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.