USD/CHF: Wave analysis and forecast for 11.03 – 18.03: Downtrend continues.
Estimated pivot point is at the level of 1.0089.
Our opinion: Sell the pair from correction below the level of 1.0089 with the target of 0.95.
Alternative scenario:
Breakout and consolidation of the price above the level of 1.0089 will
allow the pair to continue the rise up to the level of 1.05.
Analysis:
Presumably, the formation of the downward momentum continues in the
third wave iii of C. At the moment it is likely that upward correction
has completed as the second wave of the junior level (ii) of iii and
one-two wave i of (iii) of the junior level is developing. If this
assumption is correct, after the completion of the local correction ii,
the pair will continue to decline to 0.95 within the third wave (iii).
Critical level for this scenario is 1.0089.
The analytical materials are provided by
Aleksander Geuta,
a trader and analyst of LiteForex
