USD/CHF forecast: H4 - monthly graphs

   Bouncing off the “E-E+” trend’s higher bound and also leaving the “C-C+” trend (weekly graph) imply that minimum 1.0366 is meant to be updated, and then the pair is going to drop to “Q” trend line – level 1.0010 / 1.1000. After this level is reached, the pair is supposed to grow to approx. 1.1300 (“E+” trend line) and if this line gets broken, the “Wolf wave” model will take effect. The growth above level 1.1300 will state the completion of the 5th wave and beginning of the 6th one with the target of growth set to level 1.3200.

 

 

   The pair had broken the lower bound of “C-C+” trend and also bounced off the “E+” trend line, what implies dropping to “Y” trend line (1.0750), updating the minimum 1.0366, and further dropping to “Q” trend line – level 1.0010 (the graph is obsolete, that’s why the price is 1.1560 and “Q” trend line is missing on it).

 

 

   The pair had almost reached a very important support level 1.0750 (“Y” trend line); a correction from there to resistance level 1.1428 is supposed to happen. For this scenario to be developed, the pair needs to get over the “K” trend line and also over the “B-B+” trend’s higher bound.

 

 

   The pair had almost reached a very important support level 1.0750 (“Y” trend line); a correction from there to resistance level 1.0950 (higher bound of “B-B+” trend) is supposed to happen. We should expect dropping to 1.0750 and try to consider buying from there. In succession, additional buying will be possible after the pair rises above the “K” trend line (~1.0950) and above the “B+” trend line; since after the “Y” trend line is touched, the pair is supposed to break the higher bound of “B-B+” trend and the target of growth is likely to be set to level 1.1428 (daily graph). For these reasons, current levels may be a good chance for opening long-term buying positions at the very basis.