FX.co ★ Wave analysis of the USD / CHF currency pair for July 10, 2017

Analysis of wave counting:

In general, it is expected that the USD / CHF pair started trading on Friday with an upward movement, having added about 55 pp in price, and broke the 0.9650 mark in the afternoon. It can be assumed that as a result of this growth in quotations, the currency pair made an attempt to complete the 2nd wave, as part of the future wave C and go to the stage of the 3rd wave formation. If this is so, the currency pair may continue the development of the upward movement to the level of 0.9750, or to the level of the 98th figure.

Objectives for an upward wave option:

0,9687 - 100.0% by Fibonacci

0,9750 - 0,9800

Objectives for a downward wave option:

0,9555 - 127.2% by Fibonacci

0,9500

General conclusions and trading recommendations:

Wave counting implies the completion of a downward wave with c, c, E, and B; which complicated its structure. Thus, now the quotations are expected to increase within the first waves in the future C with the first targets located near the mark of 0.9687, which corresponds to 100.0% Fibonacci, and above about 98 figures. The wave E and B may well complicate its internal structure even more, but now looks quite complete.