USD/CHF: Wave analysis and forecast for 22.04 – 29.04

USD/CHF: Wave analysis and forecast for 22.04 – 29.04

25 April 2016, 04:32
Roberto Jacobs
0
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USD/CHF: Wave analysis and forecast for 22.04 – 29.04

USD/CHF:  The pair is likely to grow within correction.

Estimated pivot point is at the level of 0.9580.

Our opinion: Buy the pair from correction above the level of 0.9580 with the target of 0.98 – 1.00.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9580 will allow the pair to continue decline to 0.95 – 0.94.

Analysis: Presumably, the formation of the wedge, as the first wave i of C on the daily time-frame, has completed. At the moment upward correction as the wave ii of C is developing, within which the wedge as the wave (a) is being formed. If this assumption is correct, the pair will continue to rise up to 0.98 – 1.0. Critical level for this scenario is 0.9580.


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