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Hello to everybody have good trade for this month.
Wave analysis and forecast for USDCHF: Downtrend dominates.
Estimated pivot point is at the level of 0.9675.
Analysis: Presumably, on the four-hour timeframe, the formation of the downtrend continues in the third wave 3 of the senior level. Locally it seems that the development of the wave v of 3 continues within which the third wave of the junior level (iii) is being developed. If this assumption is correct, the pair can continue to decline to 0.9500 – 0.9400. Critical level for this scenario is 0.9675.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9675 will trigger further rise in the pair up to 0.9770.
Sell the pair from correction below the level of 0.9675 with the target of 0.9500 – 0.9400. After breakdown at the level of 0.9675, buy with the target of 0.9770.
Wave analysis and forecast for USDCHF: Downtrend dominates.
Estimated pivot point is at the level of 0.9675.
Analysis: Presumably, on the four-hour timeframe, the formation of the downtrend continues in the third wave 3 of the senior level. Locally it seems that the development of the wave v of 3 continues within which the third wave of the junior level (iii) is being developed. If this assumption is correct, the pair can continue to decline to 0.9500 – 0.9400. Critical level for this scenario is 0.9675.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9675 will trigger further rise in the pair up to 0.9770.
Sell the pair from correction below the level of 0.9675 with the target of 0.9500 – 0.9400. After breakdown at the level of 0.9675, buy with the target of 0.9770.
