USD/CHF Wave Analysis: 03.23.18
Mayzus | Mar 23, 2018 09:54AM ET
The pair is likely to fall.
Estimated pivot point is at a level of 0.9569.
Main scenario: short positions will be relevant from corrections below the level of 0.9569 with a target of 0.9335 – 0.9180.
Alternative scenario: breakout and consolidation above the level of 0.9569 will allow the pair to continue rising to a level of 0.9710.
Analysis: supposedly, an ascending correction in the form of the wave 2 of (3) of senior level has stopped developing within the 4-hour time frame. Apparently, the third wave 3 of (3) started forming now, with the first wave of junior level (i) forming inside. If the presumption is correct, the pair will logically drop to the levels 0.9335 – 0.9180. The level 0.9569 is critical in this scenario.
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