The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9923.

Main scenario: long positions will be relevant from corrections above the level of 0.9923 with a target of 1.0300. 

Alternative scenario: breakout and consolidation below the level of 0.9923 will allow the pair to continue declining to the levels at 0.9876 – 0.9709.

Analysis: Supposedly, the third wave of senior level (3) continues to form on the daily time frame. Supposedly, the first and the second waves of junior level i of (3) and ii of (3) are formed on the H4 time frame. Apparently, the wave  iii of (3) started developing on the H1 time frame, with the wave (i) of iii formed inside. If the presumption is correct, the pair will logically continue to rise in the medium term to a level of 1.0300 after the correction (ii) of iii comes to an end. The level  0.9923 is critical in this scenario.

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Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 08/03/2019 – 15/03/2019

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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