FX.co ★ Wave analysis of the USD / CHF currency pair for August 7, 2017

Analysis of wave counting:

In general, it is expected that during the Friday's trading, the pair USD / CHF was able to resume the development of the upward movement, adding about 90 pp in price and work out the mark of 0.9760 at the end of the day. It can be assumed that the currency pair still confirmed the transition to the stage of formation of the third wave, in the first, as part of the future C. If this is the case, the currency pair will continue to rise in the direction of the first settlement goal for this third wave, in the 1st and in C, located at the approach to the level of the 99th figure.

Targets for an upward wave option:

0.9750 - 0.9800

0.9900

Goals for a downward wave option:

0.9555 - 127.2% by Fibonacci

0.9388 - 161.8% by Fibonacci

General conclusions and trading recommendations:

The wave E, B supposedly completed its construction. Now the construction of wave C has supposedly begun, and the construction of its internal wave 2 has been completed. Thus, it is now possible to continue increasing quotations within wave 3, C with targets located about 98 and 99 figures.