USD/CHF Wave analysis and forecast for 13.01 – 20.01

USD/CHF Wave analysis and forecast for 13.01 – 20.01: Decline in the pair is likely to continue.

Estimated pivot point is at the level of 1.0246.

Our opinion: Sell the pair from correction below the level of 1.0246 with the target of 0.9945.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0246 will trigger further rise in the pair up to 1.0329.

Analysis: Presumably, the formation of the downward correction continues, as the wave 2, which takes a shape of the irregular plane. Locally, it is likely that the wave c of 2 is being formed, within which the third wave (iii) is being developed. If this assumption is correct, the pair may go down to 0.9945. Critical level for this scenario is 1.0246.