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FX.co ★ Wave analysis of the USD / CHF currency pair for December 26, 2017

Wave analysis of the USD / CHF currency pair for December 26, 2017

Wave analysis of the USD / CHF currency pair for December 26, 2017

Analysis of wave counting:

Despite the efforts made on Friday last week, the USD/CHF pair could not develop any meaningful upward movement. The maximum amplitude of the price change was only about 30 pp. Thus, it seems that the currency pair still remained in the formation stage of the increasingly more complex wave b, in c, in a, in C, while practically completing its internal wave d. If this is the case, the currency pair can return to the area of the mark of 0.9830 or even test the level of the 98th figure before the beginning of the future wave c, c, a, and c.

Goals for the option with an upward wave:

1,0004 - 127.2% Fibonacci retracement

1,0050 - 161,8% by Fibonacci

Targets for a downlink wave option:

0.9801 - 38.2% Fibonacci retracement

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave b, in c, in a, and in C resumed its formation with targets located near the estimated mark of 0.9801, which corresponds to 38.2% of Fibonacci. After its completion, the quotes are expected to resume rising with targets above the par value.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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