Ascending trend for the pair USD/CHF continues. Estimated pivot point is at a level of 0.9852.

Main scenario: long positions will be relevant from corrections above the level of 0.9852 with a target of 1.0057 – 1.0190.

Alternative scenario: breakout and consolidation below the level of 0.9852 will allow the pair to continue declining to the levels at 0.9745 – 0.9668.

Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) on the daily time frame. A downward correction in the form of wave iv of 1 has finished on the 4-hour time frame and the wave v of 1 has started forming. Apparently, the third wave of junior level (iii) of v continues forming now on the 1-hour time frame, with the wave ii of (iii) nearing completion inside. If the presumption is correct, the pair will continue to rise to levels 1.0057 – 1.0190. The level 0.9852 is critical in this scenario.

USD/CHF: Wave analysis and forecast for 06/07/2018 – 13/07/2018

USD/CHF: Wave analysis and forecast for 06/07/2018 – 13/07/2018

USD/CHF: Wave analysis and forecast for 06/07/2018 – 13/07/2018

Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 06/07/2018 – 13/07/2018

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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