USD/CHF: Wave analysis and forecast for 12.02 – 19.02: Downtrend continues.
Estimated pivot point is at the level of 0.9818.
Our opinion: Sell the pair from correction below the level of 0.9818 with the target of 0.9470.
Alternative scenario: Breakout and consolidation of the price above the level of 0.9818 will allow the pair to continue the rise up to the levels of 0.9980 – 1.0250.
Analysis: The formation of the downward impetus continues in the third wave iii of C. Locally, it seems that slam correction in the fourth wave (iv) has completed and the fifth wave is developing. If this assumption is correct, the pair will continue to decline to 0.95 within the developing impetus. Critical level for this scenario is 0.9818.