Correction is completed, the pair USD/CHF is likely to grow. Estimated pivot point is at a level of 0.9693.
Main scenario: long positions will be relevant from corrections above the level of 0.9693 with a target of 1.0016 – 1.0099.
Alternative scenario: breakout and consolidation below the level of 0.0.9693 will allow the pair to continue declining to a level of 0.9556.
Analysis: Supposedly, the third wave of senior level (3) continues developing on the daily time frame, with the first wave 1 of (3) formed inside in the form of a wedge. A downward correction finished forming as the wave 2 of (3) on the H4 timeframe. Apparently, the third wave 3 of (3) begins developing on the H1 time frame. If the presumption is correct, the pair may be expected to raise to the levels of 1.0016 – 1.0099. The level of 0.9693 is critical in this scenario. Its breakout will make the pair continue to decline as part of the wave 2 of (3).
