USD/CHF: wave analysis

The pair may grow.

On the daily chart, the third wave of the higher level (3) develops, within which the wave 1 of (3) forms. Now, the fifth wave of the lower level v of 1 is developing, within which the wave (iii) of v has formed, and an upward correction is developing as the wave (iv) of v. If the assumption is correct, the pair will grow to the levels of 0.9242–0.9302. In this scenario, critical stop loss level is 0.8998.

Main scenario

Long positions will become relevant during the correction, above the level of 0.8998 with the targets at 0.9242–0.9302. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 0.8998 will let the pair go down to the levels of 0.8900–0.8800.