USD/CHF forecast

   The pair is being traded above the higher bound of “B-B+” daily downtrend, what speaks in favor of getting to target levels 1.1145/1.1245 soon. Besides, the pair has gone above the higher bound of H4 “a-a+” downtrend, amplifying the potential of this scenario to take place. To continue confident growing, the market needs to get over level 1.0860 (the neckline of a flipped “head and shoulders” figure). After that, level 1.1030 (“K” trend line) is supposed to be reached, and if the pair rises further, it will likely get to accumulation of resistances in the range between levels 1.1145/1.1245.

 

 

 

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“Y” trend line (1.0750), updating the minimum 1.0366, and further dropping to “Q” trend line – level 1.0010 (the graph is obsolete, that’s why the price is 1.1560 and “Q” trend line is missing on it).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