FX.co ★ Wave analysis of the USD / CHF currency pair for May 2, 2018

Analysis of wave counting:

The continued positive mood of the foreign exchange market in relation to the dollar allowed the pair USD / CHF to continue developing the upward movement, growing by almost 70 percentage points and work out the mark of 0.9970 in the second half of last day. Thus, it can be assumed that while staying within the limits of the wave c, c, B, (2), A, (B), the currency pair has further complicated the internally taken wave 5. At the same time, it seems that the currency pair has aimed not only at the level of price parity, but also at the growth of quotations to around 1.0060.

The objectives for the option with an upward wave:

1.0060 - 76.4% of Fibonacci

The objectives for the option with a downward wave:

0.9751 - 50.0% of Fibonacci

0.9625 - 38.2% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build an uptrend. The wave counting has undergone certain changes, within the limits of the wave c, c, B, (2), A, (B), the quotations continue to rise with the targets near the calculated mark of 1.0060, which corresponds to 76.4% of Fibonacci. After the completion of the construction of this wave, a long decline is expected within the framework of wave C, (2), A, (B).