USD/CHF: Elliott wave analysis and forecast for 20/03/2020 – 27/03/2020

The pair USD/CHF remains likely to fall. Estimated pivot point is at a level of 1.0026.

Main scenario: short positions will be relevant below the level of 1.0026 with a target of 0.9167 – 0.9000.

Alternative scenario: breakout and consolidation above the level of 1.0026 will allow the pair to continue the rise up to the levels of 1.0235 – 1.0425.

Analysis: On the daily time frame, supposedly, an ascending correction of senior level finished developing in the form of wave (2) and wave (3) started forming. The third wave 3 of (3) is developing on the H4 time frame,…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>