USD/CHF Wave analysis and forecast for 19.01 – 26.01

Estimated pivot point is at a level of 0.9665.

Main scenario: short positions will be relevant from corrections below the level of 0.9665 with a target of 0.9500 – 0.9417.

Alternative scenario:Breakdown and consolidation above the level of 0.9665 will allow the pair to continue the rise up to the levels of 0.9840 – 0.9983.

Analysis: Supposedly, a descending correction of senior level in the form of the wave B continues to form within the 4-hour time frame. Apparently, the wave (c) of ii is developing at the moment, with the wave (v) of c forming inside. If the presumption is correct, the pair will continue to drop to the levels 0.9500 – 0.9417. The level 0.9665 is critical in this scenario.