FX.co ★ Wave analysis of the USD/CHF currency pair for December 20, 2017

Analysis of wave counting:

During yesterday's trading, the USD/CHF pair was unable to determine the direction of its movement, having spent the whole day near the 0.9850 mark. At the same time, it can be assumed that the currency pair was still in the stage of forming the wave с, in b, in с, in а, in С, which by the end of the American session had not yet been completed. If this is the case, then to complete this whole wave b, in c, in a, in C, the currency pair can resume the decline of quotations and still test the level of the 98th figure.

Targets for an upward wave option:

1.0004 - 127.2% by Fibonacci

1.0050 - 161.8% by Fibonacci

Targets for a downward wave option:

0.9801 - 38.2% by Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave b, in c, in a, in C, resumed its construction with targets located near the estimated mark of 0.9801, which corresponds to 38.2% of the Fibonacci. After its completion, an increase in quotations is expected with targets higher than the price parity.