FX.co ★ Wave analysis of the USD / CHF currency pair for July 20, 2017

Analysis of wave counting:

Yesterday, an attempt to continue the development of the downward movement ended with failure, and until the end of the day the pair USD / CHF returned to the highs of the European session. The resulting wave situation allows us to assume that the currency pair remained in the stage of forming the third wave, in c, c, c, c, E, B, which still retained the elements of incompleteness. If this is the case, then before marking the beginning of the 4th wave, in c, c, c, c, E, B, the price can update the minimum reached on Tuesday, located below 0.9525.

Targets for an upward wave option:

0.9687 - 100.0% by Fibonacci

0.9750 - 0.9800

Targets for a downward wave option:

0.9440 - 0.9400

General conclusions and trading recommendations:

Wave c, c, E, В complicates its internal wave structure. Thus, now it is expected to lower quotations within the framework of this wave with the goals located around 94 figures.The wave c, c, E, B can take an even more complicated form than now, only after it is completed can we expect a prolonged increase in the wave C. Within the framework of the correctional wave 4, it is possible to move upwards by 50-60 p.