USD/CHF Wave analysis and forecast for 10.07 – 18.07: The pair is likely to go up.
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Estimated pivot point is at the level of 0.8854.
Our opinion: Buy the pair from the correction above the level of 0.8854 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8854 will enable the pair to continue the decline to the levels of 0.88 – 0.8750.
Analysis: Presumably, the formation of the local correction as the second wave has completed. Locally, small in-lead momentum has been formed, as well as minor bearish correction. If this assumption is correct and the price does not break down critical level of 0.8854, the pair will continue to rise in the third wave. Breakdown of the critical level will lead to the further decline in price and enhancement of the correction of the senior level up to the levels of 0.88 – 0.8750.