USD/CHF Wave analysis and forecast for 27.06 – 04.07: The pair is undergoing correction. A chance of growth in the pair remains.
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Estimated pivot point is at the level of 0.8906.
Our opinion: Buy the pair above the level of 0.8906 with the target of 0.9150 – 0.9200.
Alternative scenario: Breakout of the level of 0.8906 will enable the pair to continue the decline to the levels of 0.8850 – 0.88.
Analysis: Presumably, the formation of the local correction as the second wave is nearing completion. Locally, it is not excluded that the formation of the wave (c) of ii has completed. If this assumption is correct, the pair will continue to grow in the third wave. As an alternative scenario: if the pair breaks down the critical level of 0.8906, the correction in the second wave may continue up to the levels of 0.8850 – 0.88.
