FX.co ★ Wave analysis of the USD / CHF currency pair for July 12, 2017

Analysis of wave counting:

Yesterday, the attempt to test the level of the 97th figure ended with a failure and the subsequent fall in the price of the pair USD / CHF by 70 pp. of the maximum (0.9695) reached in the middle of the day. It can be assumed that, having completed the 1st wave, in the 3rd, as part of the future C, the currency pair has already practically formed the 2nd wave, in the 3rd, and in C. If this is the case, then from the minimum of the last day, or slightly lower, the currency pair will resume the growth of quotations to the level of 0.9750 and further to the level of 0.9800.

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, B. 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 it looks now complete. Leaving below 0.9555 points to an even more complicated wave E and B.