USD/CHF: Wave Analysis and Forecast for 27.05 – 03.06
Estimated pivot point is at the level of 0.9762.
Our opinion: Buy the pair from correction above the level of 0.9762 or after breakout of the level of with the target of 1.0070.
Alternative scenario: Breakout and consolidation of the price below the level of 0.9762 will allow the pair to continue to decline to 0.96 – 0.95.
Analysis: Presumably, the formation of the upward correction continues as the second wave ii, which is taking a shape of a plane (a)(b)(c). Currently, it seems that the wave (c) of ii is being developed as an impetus, within which the third wave iii of (c) seems to develop, as well as the local correction as the fourth wave. If this assumption is correct, after the completion of the correction, the pair will continue to rise up to 1.00 – 1.0075. Critical level for this scenario is 0.9762.
