FX.co ★ Wave analysis of the USD / CHF currency pair for January 4, 2018

Analysis of wave counting:

Having worked out a fairly strong divergence of MACD, yesterday's USD / CHF trades started from the upward movement, adding about 80 pp in price and stopped before the level of the 98th figure in the afternoon. It can be assumed that the currency pair has attempted to complete wave c, b, a, C and go to the stage of formation of the first generating waves in the future wave c, a, C. If this is so, then the currency pair has good prospects for resuming the growth of quotations in the direction of the price parity level.

Targets for the upward wave option:

1.0004 - 127.2% by Fibonacci

1.0050 - 161.8% by Fibonacci

Targets for the downward wave option:

0.9656 - 61.8% by Fibonacci

0.9600

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave b, a, C could complete its construction. If this assumption is correct, then now it is expected to continue raising quotations with targets that are above the price parity.