The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 1.0006.
Main scenario: short positions will be relevant from corrections below the level of 1.0006 with a target of 0.9618.
Alternative scenario: breakout and consolidation above the level of 1.0006 will allow the pair to continue the rise up to the levels of 1.0122 – 1.0256.
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 ascending correction of junior level B of (2) has finished in the form of a zigzag and the wave С of (2) continues developing. On the H1 time frame, apparently, the third wave iii of C finished forming and a local ascending correction iv of C is developing at the moment. If this assumption is correct, the pair will continue to drop to 0.9618 once the correction is completed. The level 1.0006 is critical in this scenario.
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Price chart of USDCHF in real time mode
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