The USD/CHF pair is under correction, still likely to grow. Estimated pivot point is at a level of 0.9636.
Main scenario: long positions will be relevant from corrections above the level of 0.9636 with a target of 0.9864 – 0.9900.
Alternative scenario: breakout and consolidation below a level of 0.9636 will allow the pair to continue declining to a level of 0.9524 and further below.
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 developing on H4 time frame in the form of the wave 2 of (3), with the wave a of 2 formed and the upward correction b of 2 forming inside. Apparently, an ascending impetus is forming as wave (a) of b on the H1 time frame. If this assumption is correct, the pair will continue to rise to 0.9864 – 0.9900. The level 0.9636 is critical in this scenario.
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Price chart of USDCHF in real time mode
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