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

Analysis of wave counting:

After losing more than 130 pips, the USD / CHF pair could not develop a more significant downward movement and returned to the levels of last week's opening before the end of the Friday trading session. It can be assumed that the currency pair remained in the stage of formation of the wave c, in a, in (C), where the internal wave b can be assumed to be in a somewhat more complicated form. If this is the case, the currency pair will continue to identify the decline in prices up to the level of the 98th figure before resuming the growth of quotations.

The objectives for working out the variant with an upward wave:

1,0022 - 76.4% by Fibonacci

1.0120 - 100.0% of the Fibonacci

Objectives for working off a variant with a descending wave:

0.9801 - 38.2% Fibonacci retracement

0.9728 - 50.0% Fibonacci retracement

General conclusions and trading recommendations:

The instrument continues to build the upward wave (C). The increase in quotes for the week may continue with targets near the estimated levels of 1.0022 and 1.0120, which equates to 76.4% and 100.0% of Fibonacci within the wave c, in a, in ( C ). The assumed wave b, in a, in (C) completed its construction near the mark of 0.9728.