FX.co ★ Wave analysis of the USD / CHF currency pair for May 4, 2018

Analysis of wave counting:

Unable to determine the direction of the movement, the pair USD / CHF held in the range yesterday, trading between the level of price parity and the mark of 0.9955. The current wave situation allows us to assume that the currency pair made attempts to complete the formation of the internal wave structure of the entire wave c, c, B, (2), A, (B). At the same time, the currency pair continues to maintain the potential for the resumption of the growth of quotations to 1.0060 mark and even more complication of the wave 5, c, c, B, (2), A, (B).

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).