USD/CHF wave analysis and forecast for 05.01 – 12.01

Estimated pivot point is at a level of  0.9800.

Main scenario: short positions will be relevant below level 0.9800 with a target of 0.9610.

Alternative scenario:  breakout and consolidation above level  0.9800 will allow the pair to continue rising to the level of 0.9915.

Analysis: supposedly a descending correction in the form of wave (B) of senior level continues developing within 4-hour timeframe. Apparently, bullish momentum continues developing is in the form of wave (c) of ii, wave (v) of c started formation inside. If the presumption is correct, the pair may continue declining to the levels 0.9655 – 0.9610. The level 0.9800 is critical in this scenario.