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.

USD/CHF: Wave analysis and forecast for 28/09/2018 – 05/10/2018

USD/CHF: Wave analysis and forecast for 28/09/2018 – 05/10/2018

USD/CHF: Wave analysis and forecast for 28/09/2018 – 05/10/2018


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Price chart of USDCHF in real time mode

USD/CHF: Wave analysis and forecast for 28/09/2018 – 05/10/2018

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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