USD/CHF: Wave analysis and forecast for 18.03 – 25.03 - 2016

USD/CHF: Wave analysis and forecast for 18.03 – 25.03 - 2016

USD/CHF: Wave analysis and forecast for 18.03 – 25.03: Downtrend continues.

Estimated pivot point is at the level of 0.9912.

Our opinion: Sell the pair from correction below the level of 0.9912 with the target of 0.95 – 0.9470.

Alternative scenario: Breakout and consolidation of the price above the level of 0.9912 will allow the pair to continue the rise up to the level of 1.0130 - 1.02.

Analysis: Presumably, the formation of the downward impetus continues in the third wave iii of C. At the moment it is likely that the third wave of the junior level (iii) of iii is being developed, within which impetus is being formed. If this assumption is correct, the pair will continue to decline to 0.95. Critical level for this scenario is 0.9912.