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USD/CHF: Wave Analysis And Forecast For March 22- 29, 2019

Published 03/22/2019, 11:18 AM
Updated 11/29/2020, 05:10 AM

The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9878.

Main scenario: long positions will be relevant from corrections above the level of 0.9878 with a target of 1.0147 – 1.0300.

Alternative scenario:breakout and consolidation below a level of 0.9878 will allow the pair to continue declining to a level of 0.9709 and further below.

Analysis: Supposedly, the third wave of senior level (3) continues to form on the daily time frame. On the H4 time-frame, the first wave of junior level i of (3) has formed and the wave ii of (3) is nearing completion. Apparently, a downward impetus in forming in the form of the wave (с) of ii on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.0147 – 1.0300 in the medium term once the impetus finished forming. The level 0.9878 is critical in this scenario.

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