The pair USD/CHF is likely to fall in price. Estimated pivot point is at a level of 1.0095.
Main scenario: short positions will be relevant below the level of 1.0095 with a target of 0.9724 – 0.9620.
Alternative scenario: breakout and consolidation above the level of 1.0095 will allow the pair to continue the rise up to the levels of 1.0170 – 1.0238.
Analysis: The first wave of senior level 1 of (3) has been formed on the daily time-frame and the downward correction 2 of (3) is developing now. On the H4 time frame, the wave A of (2) has formed and presumably the local correction B of (2) finished developing. Apparently, the wave C of (2) started developing on the H1 time frame, with the waves of junior level i and ii formed inside. If the presumption is correct, the pair will logically drop to the levels 0.9724 – 0.9620. The level 1.0095 is critical in this scenario.
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