The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 0.9767.

Main scenario: short positions will be relevant from corrections below the level of 0.9767 with a target of 0.9600 – 0.9550.

Alternative scenario: Breakdown and consolidation above the level of 0.9767 will allow the pair to continue the rise up to the levels of 0.9847 – 0.9863.

Analysis: Supposedly, an ascending impetus finished forming as the first wave of senior level 1 of (3) within the daily time frame. A downward correction is forming as the wave 2 of (3) on the 4-hour timeframe. On H1 time frame, presumably a downward impetus is developing as the wave c of 2, with the local correction completed in the form of the fourth wave (iv) of c and the fifth wave (v) of c forming inside. If the presumption is correct, the pair will continue to drop to the levels 0.9600 – 0.9550. The level 0.9767 is critical in this scenario.

USD/CHF: Wave analysis and forecast for 07/09/2018 – 14/09/2018

USD/CHF: Wave analysis and forecast for 07/09/2018 – 14/09/2018

USD/CHF: Wave analysis and forecast for 07/09/2018 – 14/09/2018

Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 07/09/2018 – 14/09/2018

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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