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USD/CHF Wave Analysis: 03/01/2019-03/08/2019

USD/CHF Wave Analysis: 03/01/2019-03/08/2019

The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9923.

Main scenario: long positions will be relevant from corrections above the level of 0.9923 with a target of 1.0146.

Alternative scenario: breakout and consolidation below the level of 0.9923 will allow the pair to continue declining to the levels at 0.9876 – 0.9709.

Analysis: The first wave of senior level 1 of (3) has been formed on the daily time-frame and the downward correction 2 of (3) has finished developing. Supposedly, the first counter-trend wave i of 1 of (3) of junior level finished forming as an impetus on the H4 time frame. On the H1 time frame, apparently a downward correction has developed in the form of wave ii of 1 of (3). If the presumption is correct, the pair will logically rise to the levels 1.0146 – 1.0300 in the medium term. The level 0.9923 is critical in this scenario.

USD/CHF

USD/CHF

USD/CHF

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