Growth is possible.

On the daily chart, an upward correction ended as the second wave of the higher level 2, and the downward third wave 3 forms, within the wave (1) of 3 has ended, and an upward correction develops as the wave (2) of 3. Now, the wave А of (2) is forming, within which the third wave of the lower level iii of A has ended, and a local correction is developing as the fourth wave iv of A. If the assumption is correct, the USD/CHF pair will grow to the area of 0.9356–0.9553. In this scenario, critical stop loss level is 0.9085.

Main scenario

Long positions will become relevant above the level of 0.9085 with the targets at 0.9356–0.9553. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 0.9085 will let the asset go down to the area of 0.8995–0.8935.