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Wave analysis

16.08.201711:13 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for August 16, 2017

Long-term review

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Analysis of wave counting:

During the opening of trading session yesterday, the unsuccessful testing of the 0.9750 mark led the USD/CHF pair within the range limited by the level of the 97th figure and to the 0.96760 mark. It can be assumed that the currency pair remained within the 3rd wave, in the 1st, in the future C, attempting to complete the formation of its internal 1st wave. If this is the case, then for sooner or later, the currency pair will remain close to the upper limit and reached 0.9770 on Aug. 8.

Targets for the upward wave option:

0.9750 - 0.9800

0.9900

Targets for a downward wave option:

0.9650 - 0.9700

General conclusions and trade recommendations:

The wave E, in B, has completed its formation. Now, the construction of the proposed wave C continues. Thus, it is now possible to continue increase prices within the wave 3, in 1, in C with targets located around 98 figures (the targets will be further specified). The assumed wave 2, in 1, in C is completed. The construction of the correctional wave 4 is expected later this day.

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