USD/CHF Wave analysis and forecast for 11.04 – 18.04: Ascending correction has completed. The pair is going down again. Estimated pivot point is at the level of 0.8953.
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Our opinion: In the short-term: buy the pair from correction after consolidation above the level of 0.8750 with the target of 0.8830 – 0.8850. In the medium-term: wait for the completion of upward correction and sell the pair with the target of 0.8640.
Alternative scenario: Breakout and consolidation above the level of 0.8953 will enable the pair to continue growth to the levels of 0.90 – 0.91.
Analysis: It is assumed that on the daily timeframe the fourth wave has completed and the pair continues to decline in the fifth wave of the forming wedge. At the moment it is not excluded that the bearish impetus as the first wave has completed. If this assumption is true, minor bullish correction can be formed in the second wave. Upon its completion down trend in the pair can continue.
