USD/CHF Wave Analysis/Forecast: 16.03 - 23.03.2018
Mayzus | Mar 19, 2018 04:43AM ET
USD/CHF pair is still likely to grow
Estimated pivot point is at a level of 0.9421.
Main scenario: Long positions will be relevant from corrections above the level of 0.9421 with a target of 0.9612 – 0.9710.
Alternative scenario: Breakout and consolidation below the level of 0.0.9421 will allow the pair to continue declining to a level of 0.9335.
Analysis: Supposedly, an ascending correction of senior level continues to develop within the 4-hour time frame in the form of the wave 2 of (3) currently shaped like a double zigzag wxy. Apparently, the wave y of 2 is now developing locally. If this assumption is correct, the pair will continue to rise to the levels 0.9612 – 0.9710. The level 0.9421 is critical in this scenario.
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