FX.co ★ Wave analysis of the USD / CHF currency pair. Weekly review

Analysis of wave counting:

During the trades of the last week, the pair USD / CHF could not resume the indicated upward movement and fell to the level of 0.9550 on Friday after a weakening dollar. At the same time, it can be assumed that despite such a significant price reduction, the currency pair remained in the forming stage of the increasingly complex form, the second wave in the future (C). If this is the case, then before the beginning of the 3rd wave, in (C), the currency pair will continue to decline quotations and at least test the level of the 95th figure.

The objectives for an upward wave option:

0.9801 - 76.4% by Fibonacci

0.9900 - 1.0000

Goals for a downward wave option:

0.9555 - 127.2% by Fibonacci

0.9388 - 161.8 % by Fibonacci

0.9300

General conclusions and trading recommendations:

The wave counting of the instrument assumes the completion of the construction of the wave e, C, C, (B). If this assumption is correct, then the instrument can resume the upgrade with targets near the mark of 0.9801, which equates to 76.4% of Fibonacci and above about 99 and 100 figures within wave 3 in (C). Within the framework of the correction wave 2, the quotes are now moving away from the reached highs to the level of 0.9555 (127.2% Fibonacci) or slightly lower.