USD/CHF Wave Analysis And Forecast May 24 – 31, 2019
The pair USD/CHF is still likely to fall. The estimated pivot point is at a level of 1.0238.
Main scenario: Short positions will be relevant from corrections below the level of 1.0238 with a target of 0.9894 – 0.9814.
Alternative scenario: Breakout and consolidation above the level of 1.0238 will allow the pair to continue the rise up to the levels of 1.0400 – 1.0467.
Analysis: Supposedly, the third wave of senior-level 3 of (3) continues to form on the daily time frame. On the H4 time frame, supposedly the first wave of i of 3 of (3) has been formed as a wedge and a descending correction is developing in the form of the wave ii of 3 of (3). Apparently, the wave a of ii is formed on the H1 time frame. If this assumption is correct, the pair will continue to fall to 0.9894 – 0.9814. once the wave b of ii finished forming. The level of 1.0238 is critical in this scenario.
UDD/CHF 1 Hour
USD/CHF 4 Hour