FX.co ★ Wave analysis of the USD / CHF currency pair for August 29, 2017

Analysis of wave counting:

Despite the price decrease to 0.9525, the pair USD / CHF was not able to determine the direction of traffic, trading the entire past day in the range around the level of 0.9550. In this case, the internal wave structure of the assumed wave e, 2nd (or B), C, took a completely completed form. If this is so and wave e, 2nd (or B), C, does not take an even more complex form, then from the minimum of the last day, the currency pair may begin to rise in quotations and indicate the beginning of the third wave (or C), C.

Targets for the option with an upward wave:

0.9750 - 0.9800

0.9900

Targets for the downward wave option:

0.9522 - 76.4% Fibonacci

0.9500

General conclusions and trading recommendations:

The construction of the assumed ascending wave C, in which wave 1 or A is completed, continue. Thus, now it is possible to lower quotes within the wave 2 or B, C with targets located near the estimated mark of 0.9522, which is equivalent to 76.4% of Fibonacci and lower, about 95 figures. At the same time, its internal wave structure also looks quite complete. In the context of wave 3 or C, C, it is possible to resume the growth of quotations with targets above 98 figures.