The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 1.0008.

Main scenario: short positions will be relevant from corrections below the level of 1.0008 with a target of 0.9724 – 0.9618.

Alternative scenario: breakout and consolidation above the level of 1.0017 will allow the pair to continue rising to a level of 1.0122.

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) is developing now. On H4 timeframe, presumably the local upward correction of junior level B of (2) has finished in the form of a zigzag and the wave С of (2) has started developing. Apparently, the first wave i of C as a momentum has been formed and the local correction in the form of wave ii of C has finished developing in the hourly timeframe. If the presumption is correct, the pair will continue declining to the levels 0.9724 – 0.9618. The level 1.0008 is critical in this scenario.

USD/CHF: волновой анализ и прогноз на 07.12.18 - 14.12.18

USD/CHF: волновой анализ и прогноз на 07.12.18 - 14.12.18

USD/CHF: волновой анализ и прогноз на 07.12.18 - 14.12.18

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Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 07/12/2018 – 14/12/2018

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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