USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9902.
Main scenario: Consider short positions from corrections below the level of 0.9902 with a target of 0.9167 – 0.9000.
Alternative scenario:breakout and consolidation above the level of 0.9902 will allow the pair to continue rising to the levels of 1.0024 – 1.0235.
Analysis: Supposedly, the descending third wave of larger degree (3) continues developing on the daily time frame, with wave 3 of (3) forming inside. On the H4 time frame, the first wave of smaller degree i of 3 formed and a correction finished developing in the form of wave ii of 3. Apparently, the third wave iii of 3 started developing on the H1 time frame, with wave (iii) of iii forming inside. If the presumption is correct, the pair will continue to drop to the levels of 0.9167 – 0.9000. The level of 0.9902 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0024 – 1.0235.
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USD/CHF: Elliott Wave Analysis And Forecast For 24/04/2020 – 01/05/2020
Published 04/24/2020, 06:14 AM
Updated 11/29/2020, 05:10 AM
USD/CHF: Elliott Wave Analysis And Forecast For 24/04/2020 – 01/05/2020
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