Ascending trend for the pair USD/CHF continues. Estimated pivot point is at a level of 0.9787.

Main scenario: long positions will be relevant from corrections above the level of 0.9787 with a target of 1.0057 – 1.0190.

Alternative scenario: breakout and consolidation below the level of 0.9787 will allow the pair to continue declining to the levels at 0.9745 – 0.9668.

Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. A downward correction in the form of wave iv of 1 has finished in the 4-hour time frame and the wave v of 1 has started forming. Apparently, the first wave of junior level (i) of v has been formed in the 1-hour time frame and a downward correction is developing in the form of the wave (ii) of v. If the presumption is correct, the pair will logically resume rising to the levels 1.0057 – 1.0190 once the correction is completed. The level 0.9787 is critical in this scenario.

USD/CHF: Wave analysis and forecast for 22/06/2018 – 29/06/2018

USD/CHF: Wave analysis and forecast for 22/06/2018 – 29/06/2018

USD/CHF: Wave analysis and forecast for 22/06/2018 – 29/06/2018

USD/CHF: Wave analysis and forecast for 22/06/2018 – 29/06/2018

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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