USD/CHF Wave analysis and forecast for 23.03 – 30.03

USD/CHF Wave analysis and forecast for 23.03 – 30.03

The pair is likely to fall

Estimated pivot point is at a level of  0.9569.

Main scenario: short positions will be relevant from corrections below the level of 0.9569 with a target of 0.9335 – 0.9180.

Alternative scenario:breakout and consolidation above the level of  0.9569 will allow the pair to continue rising to a level of 0.9710.

Analysis: supposedly, an ascending correction in the form of the wave 2 of (3) of senior level has stopped developing within the 4-hour time frame. Apparently, the third wave  3 of (3) started forming now, with the first wave of junior level (i) forming inside. If the presumption is correct, the pair will logically drop to the  levels 0.9335 – 0.9180. The level 0.9569 is critical in this scenario.