USD/CHF corrects and remains likely to fall. Estimated pivot point is at a level of 0.9529.
Main scenario: consider short positions from corrections below the level of 0.9529 with a target of 0.9170 – 0.9050 once the correction is completed.
Alternative scenario: breakout and consolidation above the level of 0.9529 will allow the pair to continue rising to the levels of 0.9630 – 0.9799.
Analysis: Supposedly, the descending third wave of larger degree (3) continues developing on the daily time frame, with wave 1 of (3) forming inside. On the H4 time frame, wave v of 1 is forming, with…
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