USD/CHF forecast

   The pair fails to develop an uptrend again and again because of a strong resistance at level 1.0915 (“K” trend line). However, taking into consideration the picture at daily graph, the pair will eventually break above 1.0915 and get to resistance level 1.1050 (the higher bound of “C-C+” weekly downtrend). After passing 1.1050, it will then reach accumulation of supports in range between levels 1.1145 and 1.1245.

 

Trend status: side trend
Support: 1.0800 and 1.1075 (key support)
Resistance: 1.0915, 1.1010, 1.1050 and 1.1200 (key resistance)

 

 

 

   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 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“Y” trend line (1.0750), updating the minimum 1.0366, and further dropping to “Q” trend line – level 1.0010 (the graph is obsolete, that’s why the price is 1.1560 and “Q” trend line is missing on it).

 

 

   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.