USD/CHF: Wave Analysis and Forecast
USD/CHF: Wave analysis and forecast for 01.04 – 08.04: Downtrend continues. Upward correction is possible.
Estimated pivot point is at the level of 0.9660.
Our opinion: In the short-term: buy the pair above the level of 0.9660 with the target of 0.9850. In the medium-term: wait for the completion of the correction and sell the pair with the target of 0.94 – 0.9245.
Alternative scenario: The pair will continue to decline to the levels of 0.95 – 0.94.
Analysis: Presumably, the formation of the downward impetus continues in the third wave iii of C. At the moment it is likely that the third wave of the junior level (iii) of iii is being developed within which the first wave i of (iii) seems to finish and upward correction as the wave ii of (iii) is likely to develop. If this assumption is correct, the pair can rise up to 0.9850. After the completion of the correction the pair may decline to the levels of 0.94 – 0.9245.
The material has been provided by LiteForex - Finance Services Company - www.liteforex.com
