USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9212.
Main scenario: Consider short positions from corrections below the level of 0.9212 with a target of 0.8950 – 0.8800.
Alternative scenario: breakout and consolidation above the level of 0.9212 will allow the pair to continue rising to the levels of 0.9310 – 0.9466.
Analysis: The descending third wave of larger degree (3) presumably 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 wave (iii) of v continuing to form…
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