FX.co ★ Wave analysis of the USD / CHF currency pair for January 31, 2018

Analysis of wave counting:

Having failed to develop any meaningful upward movement, during the yesterday's trading, the pair USD / CHF resumed the decline and worked the mark of 0.9310 at the end of the day. Moreover, despite this decline, it can be assumed that the currency pair remains in the stage of formation of the first generating waves, in the composition of the designated 4th wave, C, (2), A, (B). At the same time, it should be noted that in the event of a price release at the low of Thursday (0.9290), the currency pair will further complicate the internal wave structure of the 5th wave, 3rd, C, (2), A, (B).

The objectives for the option with an upward wave:

0.9551 - 38.2% of Fibonacci

0.9632 - 50.0% of Fibonacci

The objectives for the downward wave option:

0.9300 - 0.9200

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. All wave counting has undergone certain changes. The assumed wave 3, C, (2), A, (B), may have completed its construction. Thus, the increase in quotations may begin within the framework of the correctional wave 4 with targets near the estimated levels of 0.9551 and 0.9632, which corresponds to 38.2% and 50.0% of Fibonacci.