USD/CHF Wave analysis and forecast for 10.02 – 17.02

USD/CHF Wave analysis and forecast for 10.02 – 17.02: The pair is likely to rise.

Estimated pivot point is at the level of 0.9867.

Our opinion: Buy the pair from correction above the level of 0.9867 with the target of 1.0200.

Alternative scenario: Breakdown and consolidation of the price below the level of 0.9867 will trigger further decline in the pair to 0.9800.

Analysis: Presumably, the formation of the downward correction, as the wave 2 in the shape of a zigzag, has completed. Locally, it is likely that the one-two wedge as the first wave of the junior level (i) has been formed. If this assumption is correct, the pair may resume the rise up to 1.0200. Critical level for this scenario is 0.9867.

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