23.10.201710:00 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair. Weekly review

Analysis of wave counting:

Last week, the USD / CHF pair started with an upward movement and from the second attempt, it was able to break through the maximum reached on October 6 (0.9835), having worked at the mark of 0.9850. Thus, the emerging wave situation allows us to assume that after completing wave c, b, (C) in a very shortened form, the currency pair made an attempt to designate the beginning of the wave c, (C). If this is so, then the currency pair may have good prospects for the growth of quotations to the level of price parity.

The objectives for working out an option with an upward wave:

0.9801 - 76.4% of Fibonacci

0.9900 - 1.0000

Targets for working off the variant with a downward wave:

0.9677 - 38.2% of Fibonacci

0.9628 - 50.0 % of Fibonacci

General conclusions and trading recommendations:

The wave counting of the instrument becomes more complicated, and wave C, C, (B) is supposedly completed. The decline of quotations may continue with the targets located near the calculated marks of 0.9677 and 0.9628, which equates to 38.2% and 50.0% of Fibonacci if wave b, (C) takes a more complicated form. If this wave is already completed, now the further increase of quotations within the framework of the future (C) with the goals located between 98 and 100 figures is expected.