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

Analysis of wave counting:

Starting yesterday's trading with the continuation of the downward movement, the USD/CHF pair lost more than 80 pp in price and at the end of the day stopped before the level of the 92nd figure. Thus, in connection with the breakdown of the low (0.9250) reached on February 2, the emerging wave situation makes it possible to consider this minimum as the completion of the refined 3rd wave, in the 3rd, in C, in (2), in A, in (B), and the current decline in quotations as the process of formation of the 3rd wave, in the 5th, in the 3rd, in C, in (2), in A, in (B). If this is the case, the 0.9140 mark can be considered as the target for the entire 5th wave, in the 3rd wave, in C, in (2), in A, in (B).

Targets for an upward wave option:

0.9478 - 38.2% by Fibonacci

0.9548 - 50.0% by Fibonacci

Targets for a downward wave option:

0.9142 - 200.0% by Fibonacci

0.9100

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. The assumed wave 3, in C, in (2), in A, in (B) once again complicated its internal structure and reached 92 figure. Lowering of quotations may continue within the internal wave 5 with targets located near the estimated mark of 0.9142, which corresponds to 200.0% of Fibonacci.