USD/CHF: Wave Analysis and Forecast for 20.05 – 27.05

USD/CHF: Wave Analysis and Forecast for 20.05 – 27.05

22 May 2016, 18:25
Roberto Jacobs
0
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USD/CHF: Wave Analysis and Forecast for 20.05 – 27.05

Estimated pivot point is at the level of 0.9760.

Our opinion: Buy the pair from correction above the level of 0.9760 with the target of 1.00.

Alternative scenario: Breakout and consolidation of the price below the level of 0.9760 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 final wave (c) of ii is being developed, within which an impetus is being formed. If this assumption is correct, the pair will continue to rise to the level of 1.00. Critical level for this scenario is 0.9760.


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