The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 0.9978.

Main scenario: short positions will be relevant from corrections below the level of 0.9978 with a target of 0.9745 – 0.9672.

Alternative scenario: breakout and consolidation above the level of 0.9978 will allow the pair to continue rising to a level of 1.0115.

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 forming as the wave 2 of (3) on the 4-hour timeframe. Apparently, the local correction of junior level b of 2 has been formed on the 1-hour time frame and a downward impetus is developing in the form of the wave c of 2. If the presumption is correct, the pair will continue to drop to the levels 0.9745 – 0.9672. The level 0.9978 is critical in this scenario..

USD/CHF: Wave analysis and forecast for 24/08/2018 – 31/08/2018

USD/CHF: Wave analysis and forecast for 24/08/2018 – 31/08/2018

USD/CHF: Wave analysis and forecast for 24/08/2018 – 31/08/2018

Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 24/08/2018 – 31/08/2018

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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