FX.co ★ Wave analysis of the USD / CHF currency pair for August 24, 2017

Analysis of wave counting:

Despite the preconditions, at the beginning of yesterday's trading, the pair USD / CHF could not overcome the level of the 97th figure and fell back to the level of 0.9640 at the end of the day. At the same time, it can be assumed that the beginning of the downward movement will be further developed to the level of 0.9570 and the 2nd wave, 1st, C will take a much more complicated form. At the same time, the currency pair has so far retained the potential for the resumption of the growth of quotations and the continuation of the formation of the internal wave structure of the third wave, 3rd, 1st, C.

The objectives for the upward wave option:

0.9750 - 0.9800

0.9900

Goals for the downward wave option:

0.9609 - 50.0% by Fibonacci

0.9570 - 61.8% by Fibonacci

General conclusions and trading recommendations:

The expected upward wave C is being continued. Thus, it is possible now to raise quotations within the framework of wave 3, 3, 1, C with targets located about 98 figures (the goals will be further specified). The assumed wave 2, 1, C is completed, but under certain circumstances, it can complicate its internal wave structure.