The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9907

Main scenario: long positions will be relevant from corrections above the level of  0.9907 with a target of 1.0073 – 1.0126. 

Alternative scenario: breakout and consolidation below the level of 0.9907 will allow the pair to continue declining to the levels at 0.9834 – 0.9714.

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) has finished developing. Supposedly, the first counter-trend wave i of 1 of (3) continues forming as an impetus on the H4 time frame. Apparently, the fifth wave of junior level (v) of i is forming on the H1 time frame. If the presumption is correct, the pair will continue to rise to the levels 1.0073 – 1.0126 in the short term. The level  0.9907 is critical in this scenario.


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Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 08/02/2019 – 15/02/2019

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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