USD/CHF Wave analysis and forecast for 25.04 – 02.05: Downtrend dominates.
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Estimated pivot point is at the level of 0.8856.
Our opinion: Sell the pair below the level of 0.8856 with the target of 0.8740 – 0.8670.
Alternative scenario: Breakout of the level of 0.8856 will enable the pair to continue decline to the level of 0.89.
Analysis: Presumably, the formation of the upward correction as the second wave has completed. Locally, the first and the second waves have been formed in the third wave of the senior level. If this assumption is correct, and the price does not breakdown critical level of 0.8856, the pair will continue to decline in the third wave.