20.11.201710:05 Forex Analysis & Reviews: Wave analysis of the USD/CHF currency pair. Weekly review

Analysis of wave counting:

Unable to resume the upward movement, the USD/CHF pair lost another 140 percentage point during the trades of the previous week and on Wednesday reached the level of 0.9845. At the same time, it can be assumed that the currency pair continued to remain in the formation stage of the slightly elongated wave c, in the second, in c, in a, in (C). If this is the case, then from the lows already reached on November 15, or after testing the level of the 98th figure, the currency pair will nevertheless begin to rise in quotes, thereby indicating the beginning of the third wave, in c, in, and in (C).

Targets for an upward wave option:

1.0022 - 76.4% by Fibonacci

1.0120 - 100.0% by Fibonacci

Targets for a downward wave option:

0.9800 - 0.9900

The trading instrument continues to build the upward wave (C). The increase in quotations may resume with targets near the estimated levels of 1.0022 and 1.0120, which equates to 76.4% and 100.0% of Fibonacci, within wave 3, in c, in a, in (C). The assumed 2nd wave, in c, in a, in (C) has completed its construction or is nearing completion.