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

Analysis of wave counting:

Having failed to execute the reversal, during the trades of last week, the currency pair USD / CHF continued the development of the upward movement, having added more than 120 percentage points in price and stopped before the mark of 0.9650 on Friday. At the same time, there were grounds to consider the entire growth of quotations from the February 16 low (0.9185) as the process of formation of the adopted diagonal triangle of the wave 4, c, 2, A, (B). If this is the case, then from the high of the last day of the previous week (or slightly higher), the currency pair will resume its downward movement and go to the stage of formation of the first generating waves in the future wave 5, c, 2, A, (B).

The objectives for working off a variant with a downward wave:

0,9071 - 261.8% of Fibonacci

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

0.9675 - 61.8% of Fibonacci

0.9790 - 76.4% of Fibonacci

General conclusions and trading recommendations:

The wave counting assumes the construction of a downward trend section. The decline in quotes may resume this week with targets near the target mark of 0.9071, which equates to 261.8% of Fibonacci, within wave 5, c, 2, A, (B). An unsuccessful attempt to break through the mark of 0.9675 may lead to the completion of wave 4, c.