FX.co ★ Wave analysis of the USD / CHF currency pair for August 15, 2017

Analysis of wave counting:

By working out the MACD divergence, yesterday's USD / CHF trading started from the upward movement, adding about 110 pp in price and reached the level of 0.9730 at the end of the day. It can be assumed that the currency pair made an attempt to complete the formation of the 2nd wave, 1st, future C and designate the beginning of the third wave, 1st, C. If this is so, and the 2nd wave, 1st, C will not take an even more complicated form, then the currency pair had good prospects, allowing it to update the maximum of August 8 (0.9770) and also test the level of the 98th figure.

Targets for the upward wave option:

0.9750 - 0.9800

0.9900

Goals for the downward wave option:

0.9570 - 61.8% by Fibonacci

0.9522 - 76.4% by Fibonacci

General conclusions and trading recommendations:

The wave E, B has completed its construction. Now the construction of the proposed wave C continues. Thus, it is now possible to continue increasing quotations within the framework of the correctional wave 3, 1, C with targets located around 98 figures. The assumed wave 2, 1, C is completed. The MACD convergence warned of the readiness of the instrument to build the upward wave.