USDCHF Wave analysis and forecast for 01.08 – 08.08: The pair is likely to grow.

Estimated pivot point is at the level of 0.9003.

Our opinion: Buy the pair from the correction above the level of 0.9003 with the target of 0.9130 – 0.92.

Alternative scenario: Breakout of the level of 0.9003 will enable the pair to continue the decline to the levels of 0.8950 – 0.89.

Analysis: Presumably, the formation of the upward momentum in the third wave iii continues. Locally, a smaller momentum as the wave (iii) of iii is being formed. If this assumption is correct and the price does not break down critical level 0.9003, the pair will continue to rise in the third wave (iii) to the level of 0.9130. Breakout of the critical level will trigger further decline to the levels of 0.8950 – 0.89.