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

Analysis of wave counting:

Repeated attempts of the USD/CHF pair to gain a foothold above the level of price parity ended during the trades of the last week with a failure and the price retreated to the level of 0.9975. The resulting wave situation makes it possible to assume that the currency pair began to make attempts to complete the wave c, in b, in the 2nd, in A, in (B) and move to the stage of formation of the future wave c, in the 2nd, in A , in (B). If this is the case, then from the already reached 1.0055 highs in the region, the currency pair can perform a turn against the dollar, with the prospect of lowering the quotations at least to the level of 0.9200.

Targets for buying:

1.0064 - 76.4% by Fibonacci

1.0100

Targets for selling:

0.9761 - 50.0% by Fibonacci

0.9200

General conclusions and trading recommendations:

Wave counting assumes the construction of a descending set of waves. This week it is recommended selling the currency pair with the first target, located near the estimated mark of 0.9716, which equates to 50.0% of Fibonacci if an attempt to break the 1.0064 mark is unsuccessful. A break of 1.0064 marks will complicate the internal wave marking of wave b, in 2, in A, in (B) with targets of about 101 and 102 figures.