USD/CHF: Wave analysis and forecast for 15/03/2019 – 22/03/2019

The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9923.

Main scenario: long positions will be relevant from corrections above the level of 0.9923 with a target of 1.0300.

Alternative scenario: breakout and consolidation below the level of 0.9923 will allow the pair to continue declining to the levels at 0.9876 – 0.9709.

Analysis: Supposedly, the third wave of senior level (3) continues to form on the daily time frame. Supposedly, the first and the second waves of junior level i of (3) and ii of (3) are formed on the H4 time frame. Apparently, the wave  iii of (3) started developing on the H1 time frame, with the wave  (i) of iii formed and the local correction (ii) of iii nearing completion inside. If the presumption is correct, the pair will continue to rise to the level of  1.0300 in the medium term once the correction has been completed. The level  0.9923 is critical in this scenario.