USD/CHF remains likely to fall. Estimated pivot point is at the level of 0.9530.
Main scenario: consider short positions from corrections below the level of 0.9530 with the target in 0.9170 – 0.9050.
Alternative scenario: breakout and consolidation above the level of 0.9530 will allow the pair to continue rising to the levels of 0.9651 – 0.9781.
Analysis: Supposedly, the descending third wave of larger degree (3) continues developing on the USD/CHF daily time frame, with wave 1 of (3) forming inside. On the H4 time frame, wave v of 1 is forming, wave (iii) of v finished developing inside of it. On the H1 time frame,…
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