FX.co ★ Wave analysis of the USD / CHF currency pair. Weekly review

Analysis of wave counting:

Unable to continue the decline, the currency pair USD / CHF started from the upward movement last week, having fulfilled the target level of 0.9550 and reached the level of 0.9585 on Thursday. It seems that despite the strong divergence of MACD, the currency pair has further complicated the internal wave structure of the wave 4, 3, c, 2, A, (B). If this is the case, then from the maximum of last Thursday, the currency pair will resume the decline of quotations, going to the stage of formation of the future wave 5, 3, c, 2, A, (B).

The objectives for working off a variant with a downward wave:

0.9196 - 423.6% of Fibonacci

0.9095 - 300.0% of Fibonacci

The objectives for working out the variant with an upward wave:

0.9551 - 50.0% of Fibonacci

0.9636 - 61.8% of Fibonacci

General conclusions and trading recommendations:

The wave counting assumes the construction of a downward trend section. The decline in quotations may resume this week with targets near the settlement marks of 0.9196 and 0.9095, which equates to 423.6% and 300.0% of Fibonacci, within wave 5, 3, c, 2, A, (B). An unsuccessful attempt to break through the mark of 0.9551 could lead to the completion of wave 4, c. The divergence of the MACD also warns about the readiness of the tool to decrease.