USDCHF Wave analysis and forecast for 31.03 – 07.04

Wave analysis and forecast for 31.03 – 07.04: The pair is likely to decline within correction.

Estimated pivot point is at the level of 1.0020.

Analysis: Presumably, the formation of the downward correction as the wave 2 of the senior level has completed. Locally, it is likely that the one-two impetus as the wave (i) has been formed. If this assumption is correct, the downward correction in the pair can continue to the level of 0.9891 within the wave (ii). Critical level for this scenario is 1.0020.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0020 will trigger rise in the pair up to 1.0160.