USD/CHF Wave analysis and forecast for 04.04 – 11.04: Development of ascending correction. Estimated pivot point is at the level of 0.8813.
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Our opinion: Buy the pair from correction above the level of 0.8813 with the target of 0.90.
Alternative scenario: Breakout and consolidation below the level of 0.8813 will allow the price to continue decline to the level of 0.86.
Analysis: It is assumed that on the daily timeframe the fourth wave of a diagonal within the fifth wave of a senior level is being formed. At the moment the fourth wave is taking a shape of a diagonal with the emerging third wave C of 4. If this assumption is true, the pair will continue to grow to the level of 0.90.
