USD/CHF: Elliott Wave Analysis And Forecast For 20/03/2020 – 27/03/2020

The pair USD/CHF remains likely to fall. Estimated pivot point is at a level of 1.0026.
Main scenario: short positions will be relevant below the level of 1.0026 with a target of 0.9167 – 0.9000.
Alternative scenario:breakout and consolidation above the level of 1.0026 will allow the pair to continue the rise up to the levels of 1.0235 – 1.0425.
Analysis: On the daily time frame, supposedly, an ascending correction of senior level finished developing in the form of wave (2) and wave (3) started forming. The third wave 3 of (3) is developing on the H4 time frame, with wave i of 3 formed inside. Apparently, a local correction is nearing completion in the form of wave ii of 3 on the H1 time frame. If the presumption is correct, the pair may be expected to fall to the levels of 0.9167 – 0.9000. The level of 1.0026 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0235 – 1.0425.