The pair USD/CHF is still likely to fall

Estimated pivot point is at a level of 0.9758

Main scenario: short positions will be relevant from corrections below the level of  0.9758 with a target of 0.9600 – 0.9525.

Alternative scenario:breakout and consolidation above the level of 0.9758 will allow the pair to continue the rise up to the levels of 0.9850 – 0.9900.

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 developing on H4 time frame in the form of the wave  2 of (3), with the wave a of 2 forming inside. Apparently, the fifth wave of junior level (v) of c is forming on the H1 time frame. If the presumption is correct, the pair will continue to drop to the levels 0.9600 – 0.9525. The level  0.9758 is critical in this scenario.

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Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 14/09/2018 – 21/09/2018

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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