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USD/CHF: Wave analysis and forecast for 12/10/2018 – 19/10/2018

USD/CHF: Wave analysis and forecast for 12/10/2018 – 19/10/2018

The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9855.

Main scenario: long positions will be relevant from corrections above the level of 0.9855 with a target of 1.0068 – 1.0170.

Alternative scenario: breakout and consolidation below the level of 0.9855 will allow the pair to continue declining to the levels at 0.9748 – 0.9700.

Analysis: The first wave of senior level 1 of (3) and the downward correction 2 of (3) have been formed on the daily time-frame. On H4 time-frame, an upward impetus is developing in the form of the first wave of junior level i of 3. On H1 time frame, the wave (iii) of i has been formed and a downward correction (iv) of i is completed. If the presumption is correct, the pair will continue to rise to the levels 1.0068 – 1.0170. The level 0.9855 is critical in this scenario.

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