USD/CHF Wave analysis and forecast for 30.12 – 06.01

USD/CHF Wave analysis and forecast for 30.12 – 06.01: The pair is experiencing correction.

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Estimated pivot point is at the level of 1.0310.

Our opinion: Sell the pair from correction below the level of 1.0310 with the target of 1.0000. In case of breakout of the level of 1.0310, buy with the target of 1.0517.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0310 will trigger further rise in the pair to 1.0517.

Analysis: Presumably, the formation of the downward correction as the wave 2 continues. It is likely that the wave has taken a shape of the irregular plane. Locally it seems that the wave c of 2 is being formed, within which the pair may decline to 1.000. Critical level for this scenario is 1.0310.