FX.co ★ Wave analysis of the USD/CHF currency pair for April 9, 2018

Analysis of wave counting:

Only in the middle of Friday trading could the USD/ CHF pair start the expected downward movement and, losing about 70 percentage point in price, at the end of the day gain a foothold under the level of the 96th figure. Thus, it seems that as a result of this decline, the currency pair has already completed the formation of the entire 4th wave, in C, in (2), in A, in (B). If this is also the case of wave e, the fourth wave, in C, in (2), in A, in (B), will not take an even more complex form, then the apparent decline in quotations can be regarded as the beginning of the future 1st wave, in the 1st, in the 5th, in C, in (2), in A, in (B).

Targets for an upward wave option:

0.9635 - 61.8% by Fibonacci

Targets for a downward wave option:

0.9551 - 50.0% by Fibonacci

0.9465 - 38.2% by Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. The assumed wave 4, in C, in (2), in A, in (B), may have been completed. If this is the case, then the decline in quotes will continue within the framework of wave 1, at 5, in C, in (2), in A, in (B) with targets near the estimated marks of 0.9551 and 0.9465, which corresponds to 50.0% and 38.2% of Fibonacci.