USD/CHF Wave analysis and forecast of 07.11 – 14.11: The pair is likely to decline.
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Estimated pivot point is at the level of 0.96.
Our opinion: Wait for the breakdown of the level of 0.96 and sell the pair from correction below the local highs, which has been formed at the moment of breakdown, with the target of 0.9350 – 0.92.
Alternative scenario: Breakout and consolidation of the price above of the level of 0.9750 will enable the pair to continue the rise up to 0.98 – 0.9850.
Analysis: Presumably, the formation of the fifth wave of the “bearish” trend is nearing completion on the daily timeframe. If this assumption is correct, in the near future the pair will start to decline to the levels of 0.9350 – 0.92 within the wave (В).
