USD/CHF: Wave analysis and forecast for 08/02/2019 – 15/02/2019

The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9907

Main scenario: long positions will be relevant from corrections above the level of  0.9907 with a target of 1.0073 – 1.0126.

Alternative scenario: breakout and consolidation below the level of 0.9907 will allow the pair to continue declining to the levels at 0.9834 – 0.9714.

Analysis: The first wave of senior level 1 of (3) has been formed on the daily time-frame and the downward correction 2 of (3) has finished developing. Supposedly, the first counter-trend wave i of 1 of (3) continues forming as an impetus on the H4 time frame. Apparently, the fifth wave of junior level (v) of i is forming on the H1 time frame. If the presumption is correct, the pair will continue to rise to the levels 1.0073 – 1.0126 in the short term. The level  0.9907 is critical in this scenario.