USD/CHF Wave analysis and forecast for 12.01 – 19.01

Estimated pivot point is at a level of 0.9843.

Main scenario: short positions will be relevant below the level of 0.9843 with a target of 0.9655.

Alternative scenario:Breakdown and consolidation above the level of 0.9843 will allow the pair to continue the rise up to the levels of 0.9915 – 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 this assumption is correct, the pair will go on dropping to the level of  0.9655. The level 0.9843 is critical in this scenario.