Ascending trend for the USD/CHF price continues. Estimated pivot point is at a level of 0.9859

Main scenario: long positions will be relevant from corrections above the level of 0.9859 with a target of 1.0100 – 1.0190.

Alternative scenario: breakout and USD/CHF price consolidation below the level of 0.9859 will make USD/CHF rate continue declining towards the level of 0.9745.

Analysis: Supposedly, an ascending momentum continues to form as the first wave of senior level 1 of (3) in USDCHF 1D timeframe. The fifth wave v of 1 is developing in the 4-hour timeframe. Apparently, the third wave of junior level (iii) of v is complete, and a local correction as wave (iv) of v is developing. If the presumption is correct, after it finishes, the USD/CHF rate will continue rising towards levels 1.0100 – 1.0190. The level 0.9859 is critical in this scenario.

USD/CHF: волновой анализ и прогноз на 20.07.18 - 27.07.18

USD/CHF: волновой анализ и прогноз на 20.07.18 - 27.07.18

USD/CHF: волновой анализ и прогноз на 20.07.18 - 27.07.18

Price chart of USDCHF in real time mode

USD/CHF: wave analysis and forecast for 20/07/2018 – 27/07/2018

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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