Ascending trend for the pair USD/CHF continues. Estimated pivot point is at a level of 0.9899.
Main scenario: long positions will be relevant from corrections above the level of 0.9899 with a target of 1.0100 – 1.0190.
Alternative scenario: breakout and consolidation below the level of 0.9899 will allow the pair to continue declining to a level of 0.9745.
Analysis: Supposedly, an ascending impetus continues to form as the first wave of senior level 1 of (3) within the daily time frame. The fifth wave v of 1 is forming on the 4-hour timeframe. Apparently, the third wave of junior level (iii) of v has been formed on the 1-hour time frame and a local correction finished developing in the form of the wave (iv) of v. If the presumption is correct, the pair will continue to rise to levels 1.0100 – 1.0190. The level 0.9899 is critical in this scenario.
Price chart of USDCHF in real time mode
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