USD/CHF Wave analysis and forecast for 20.06 – 27.06: The pair is undergoing correction. The pair is likely to grow.
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Estimated pivot point is at the level of 0.8906.
Our opinion: Buy the pair above the level of 0.8906 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8906 will enable the pair to continue the decline to the levels of 0.8850 – 0.88.
Analysis: Presumably, the formation of the uptrend continues, within which the third wave will be developed. Locally, the formation of the downward correction as the second wave (ii) of iii is nearing completion. If this assumption is correct, following the completion of the correction, it makes sense to expect that the pair will continue to rise up to the levels of 0.91 – 092. Critical level for this scenario is the level of 0.8906. In is also possible that in case of breakdown of the critical level, the correction may go up to the levels 0.8850 – 0.88 in the second wave of the senior level.
