USD/CHF: Wave analysis

FX:USDCHF   U.S. Dollar / Swiss Franc
38 0 4
USD/CHF: Wave analysis : Downtrend continues.

Estimated pivot point is at the level of 1.0033.

Our opinion: Sell the pair from correction below the level of 1.0033 with the target of 0.9650 – 0.9470.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0033 will allow the pair to continue the rise up to the level of 1.05.

Analysis: Presumably, the formation of the downward momentum continues in the third wave iii             of C. At the moment it is possible that upward correction has completed as he second wave of the junior level (ii) of iii             . If this assumption is correct, the pair can go down to 0.95within the third wave ( iii             ). Critical level for this scenario is 1.0033.
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