USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9554.
Main scenario: consider short positions from corrections below the level of 0.9554 with a target of 0.9323 – 0.9170.
Alternative scenario: breakout and consolidation above the level of 0.9554 will allow the pair to continue rising to the levels of 0.9651 – 0.9781.
Analysis: Supposedly, the third descending wave of larger degree (3) continues developing on the daily time frame, with wave 1 of (3) forming inside. On the 4-hour time frame, a correction finished developing in the form of wave iv of 1 and wave…
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