USD/CHF Wave analysis and forecast of 22.08 – 29.08: Uptrend dominates.

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Estimated pivot point is at the level of 0.9145.

Our opinion: Sell the pair from correction below the level of 0.9145 with the target of 0.9018.

Alternative scenario: Breakout and consolidation above the level of 0.9145 will make it possible for the price to continue the growth to the level of 0.92.

Analysis: Presumably, the formation of the ascending momentum in the third wave (iii) has completed. Locally, a formation of the “bearish” correction in the fourth wave (iv) is not excluded. If this assumption is correct, after the completion of the correction the pair will continue to rise in the fifth wave to the levels of 0.9250 – 0.93.

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