FX.co ★ Wave analysis of the USD/CHF currency pair for December 1, 2017

Analysis of wave counting:

Continuing the upward movement in the beginning of yesterday's European session, in the middle of trading the USD/CHF pair reached the level of 0.9880 and only after that it fell back by more than 60 percentage points from the high of the previous day. The current wave situation makes it possible to assume that the currency pair has completed the 1st wave and has moved to the stage of formation of the 2nd wave, as part of the future 5th, in a, in C. If this is the case, the currency pair retains the potential allowing probability the resumption of growth of quotes in the direction of the level of price parity.

Targets for an upward wave option:

1.0080 - 1.0100

Targets for a downward wave option:

0.9750 - 0.9800

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave 4, in a, in C has completed its construction. If this is true, then the pair's quotes will continue to rise within wave 5, in a, in C with targets located near the price parity.