USD/CHF Wave analysis and forecast for 08.11 – 15.11: Formation of ascending correction. Growth is likely to continue. Estimated pivot point is at the level of 0.8889.
Our opinion: Buy the pair from correction above the level of 0.8889 with the target of 0.9320 – 0.94.
Alternative scenario: Breakout and consolidation below the level 08889 will enable the pair to continue decline to the level of 0.87 – 0.86.
Analysis: Presumably, formation of the downward impetus as the first wave in the third higher level 1 of iii has completed. Locally, ascending correction within the second wave is being formed. . If this assumption is correct, the pair will continue to grow to 0.94.
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