FX.co ★ Wave analysis of the USD / CHF currency pair for April 25, 2018

Analysis of wave counting:

Yesterday's testing of the level of the 98th figure led to a halt in the development of the weekly upward movement, which allowed the pair USD / CHF to finish yesterday's trading by pulling back the price to the level of 0.9775. The current wave situation suggests that after reaching the 0.9810 mark, the currency pair made an attempt to complete the process of forming the wave c, e, 4, C, (2), A, (B). If this is the case, then from the maximum of the past day, the currency pair can execute a turn and designate the beginning of the future wave 5, C, (2), A, (B).

The objectives for the option with an upward wave:

0.9790 - 76.4% of Fibonacci

The objectives for the option with a downward wave:

0.9675 - 61.8% of Fibonacci

0.9582 - 50.0% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. The proposed wave e, 4, C, (2), A, (B) can further complicate its structure with targets near the estimated mark of 0.9790, which corresponds to 76.4% of Fibonacci, and higher. After the completion of the construction of this wave, the quotations are expected to fall within the limits of wave 5, C, (2), A, (B) with targets near the estimated levels of 0.9675 and 0.9582, which corresponds to 61.8% and 50.0% of the Fibonacci. The MACD divergence warns of the tool's willingness to build a bearish wave. An unsuccessful attempt to break through the mark of 0.9790 may lead to the withdrawal of quotations from the peaks reached.