FX.co ★ Wave analysis of the USD / CHF currency pair. Weekly review

Analysis of wave counting:

Last week, the pair USD / CHF remained within the range limited by the levels of 96th and 97th figures. At the same time, it seems that the currency pair was in the stage of forming the first generating waves in the future wave (C). The current wave pattern allows the probability of resuming the decline of quotations up to the level of 0.9400. Thus, the internal wave structure of the entire wave e, C, C, (B) will take an even more complex and time-consuming form.

Objectives for an upward wave option:

0,9801 - 76.4% by Fibonacci

1,0000 - 1,0100

Objectives for a downward wave option:

0,9555 - 127.2% by Fibonacci

0,9400

General conclusions and trading recommendations:

The wave counting of the instrument involves the construction of a complicated wave e, C, C, (B). The tool may continue to decline with targets located near the estimated mark of 0.9555, which is equivalent to 127.2% Fibonacci, and lower, about 94 figures. After the completion of the construction of this wave (perhaps already), a prolonged increase in quotations is expected within the framework of the proposed wave (C). Unsuccessful attempt to break through the mark of 0.9555 led to the withdrawal of quotations from the achieved minimums.