USD/CHF Wave analysis and forecast for 14.03 – 21.03: Downtrend prevails; Decline is likely to continue. Estimated pivot point is at the level of 0.8815.
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Our opinion: In the short-term: sell the pair from correction below the level of 0.8815 with the target of 0.8640 – 0.8620. In the medium-term: wait for the completion of downtrend.
Alternative scenario: Breakdown and consolidation above the level of 0.8815 will enable the pair to continue growth to the level of 0.89 – 0.90.
Analysis: Presumably, the formation of the downtrend in the wave (c) is ongoing. At the moment it is not excluded that the fifth wave v of 5 of (c) is nearing completion. If this assumption is true, the pair may reverse and start to grow in the medium-term.
