The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9847.
Main scenario: long positions will be relevant from corrections above the level of 0.9847 with a target of 1.0068 – 1.0170.
Alternative scenario: breakout and consolidation below the level of 0.9847 will allow the pair to continue declining to the levels at 0.9748 – 0.9700.
Analysis: The first wave of senior level 1 of (3) and the downward correction 2 of (3) have been formed on the daily time-frame. An upward impetus is developing in the form of the first wave of junior level i of 3 and, supposedly, the local correction ii of 3 finished forming on the H4 time-frame. Apparently, the wave iii of 3 started developing on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.0068 – 1.0170. The level 0.9847 is critical in this scenario.
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Price chart of USDCHF in real time mode
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