USD/CHF Wave analysis and forecast for 29.11 – 06.12

USD/CHF Wave analysis and forecast for 29.11 – 06.12: Formation of ascending correction. Growth is likely to continue.Estimated pivot point is at the level of 0.8890.Our opinion: Wait for the completion of the local correction and buy the pair in case of reversal above the level of 0.8890 with the target of 0.9320 – 0.94.Alternative scenario: Breakout and consolidation below the level 08889 will enable the pair to continue decline to the level of 0.89 – 0.88.Analysis: Presumably, formation of downward impetus as the first wave in the third higher level 1 of iii has completed. Locally, ascending correction within the second wave is being formed, which is likely to take a shape of Zigzag a.b.c. If this assumption is correct, the pair will continue to rise to 0.94.

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