FX.co ★ Wave analysis of the USD / CHF currency pair for January 16, 2018

Analysis of wave counting:

In the wake of the next dollar weakening, yesterday's USD / CHF trades began with a downward movement, having lost about 70 percentage points and already stopped near the level of the 96th figure in the middle of the day. It can be assumed that the currency pair continued to remain in the stage of formation of the wave e, b, a, C, in which its internal wave c assumed a highly elongated form. If this is the case, then from the minimum of the past day, or after working out the calculated goal near the mark of 0.9665-0.9655, the currency pair will still complete the entire wave b, a, C and will designate the beginning of the future wave c, a, C.

The targets for an upward wave option:

1.0004 - 127.2% of Fibonacci

1.0050 - 161.8% of Fibonacci

The targets for the downward wave option:

0.9656 - 61.8% of 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 resumed its construction. If this assumption is correct, then now the decline in quotes will continue with targets near the estimated mark of 0.9656, which is equivalent to 61.8% of Fibonacci. An unsuccessful attempt to break the mark of 0.9656 may lead to the completion of the construction of the entire wave e, b, a, C.