Wave analysis of the USD/CHF currency pair for December 4, 2017

Analysis of wave counting:

Having stood most of the Friday trading in the range near the 0.9850 mark, towards the end of the day the USD/CHF pair started a rather dynamic decline and, having lost more than 130 pp, fell to the level of 0.9735. Thus, due to the fact that the currency pair broke through the lows reached on November 24, there were grounds to consider the high of November 1 (1.0037) as the peak of wave a, in a, in C, and the subsequent price decrease as the process of wave formation b, in a, in C. If this is the case, the resulting divergence of MACD_aka indicates that from the last day's low of the last week the currency pair can perform a reversal in favor of the dollar and go to the stage of the formation of the wave c, in a, and in C.

Targets for an upward wave option:

1.0080 - 1.0100

Targets for a downward wave option:

0.9728 - 50.0% by Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave b, in a, in C resumed its construction with targets located near the estimated mark of 0.9728, which corresponds to 50.0% of Fibonacci. After the completion of the construction of this wave, a long increase in quotations with targets that are above the price parity is expected.