FX.co ★ Wave analysis of the USD / CHF currency pair for August 9, 2017

Analysis of wave counting:

In the course of yesterday's trading, the pair USD / CHF resumed the expected upward movement and in the second half of the day, it updated the maximum reached on last Friday. At the same time, it can be assumed that the currency pair was still in the stage of formation of the 3rd wave, in the 1st and in the future C, which, by the close of the American session, took a completely completed form. If this is so, this 3rd wave, 1st, C, will not further complicate its wave structure. Then, from the high of the previous day, or slightly higher, the currency pair may start a pullback against the dollar, marking the beginning of the 4th wave, 1st, C.

Targets for the an upward wave option:

0.9750 - 0.9800

0.9900

Objectives for a downward wave option:

0.9687 - 100.0% by Fibonacci

0.9555-127.2% by Fibonacci

General conclusions and trading recommendations:

Wave E, B 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, 1, C with targets located about 98 and 99 figures. It is also possible for a small decrease in quotations within the framework of the correctional wave 4, 1, C.