USD/CHF: Elliott wave analysis and forecast for 27/03/2020 – 03/04/2020

The pair USDCHF remains likely to fall. Estimated pivot point is at a level of 0.9908.

Main scenario: short positions should be considered from corrections below the level of 0.9908 with a target of 0.9167 – 0.9000.

Alternative scenario: breakout and consolidation above the level of 0.9908 will allow the pair to continue the rise up to the levels of 1.0235 – 1.0425.

Analysis: Supposedly, the descending third wave of senior level (3) continues developing on the daily time frame, with wave 3 of (3) forming inside. On the H4 time frame, the first wave of junior level  i of…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>