USD/CHF Wave analysis and forecast for 04.07 – 11.07: The pair is likely to grow.
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Estimated pivot point is at the level of 0.8854.
Our opinion: Buy the pair from the correction above the level of 0.8854 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8854 will enable the pair to continue the decline to the levels of 0.88 – 0.8750.
Analysis: Presumably, the formation of the local correction as the second wave has completed. Locally, it is possible that the small in-lead momentum is being formed. If this assumption is correct, the pair will continue to grow in the third wave. Critical level for this scenario is 0.8854. Breakout of this level will trigger further decline in price and deepening of the correction up to the levels of 0.88 – 0.8750.
