FX.co ★ Wave analysis of the USD / CHF currency pair for July 11, 2017

Analysis of wave counting:

During the yesterday's trading, the pair USD / CHF was able to continue the upward movement that began on Friday and reach the level of 0.9675 in the middle of the day. Thus, we can assume that the currency pair confirmed the transition to the stage of formation of the first generating waves in the 3rd wave and in the future wave C. If this is so, the currency pair has gained the potential for further growth of quotations to 0.9750, or even 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 assumes the completion of the downward wave c, c, E, and B. Thus, now it is expected to increase quotations within the first waves in the future wave 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. Leaving below 0.9555 points to an even more complicated wave E and B.