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Wave analysis

23.11.201714:36 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for November 23, 2017

Long-term review

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Analysis of wave counting:

Yesterday, the trading of the USD/CHF pair started with a dynamic development of a downward movement and lost about 100 pips. The day closed at the level of 0.9810. So far, the resulting wave pattern suggests that the currency pair has remained in the stage of forming the 4th wave, in a, and in C, giving it an even more complex and time-consuming structure. If so, then testing the level of the 98th figure may lead to the completion of the whole down-correction structure and a price reversal in favor of the dollar will mark the beginning of the future 5 th wave, in a, in C.

Goals for the option with an upward wave:

1,0080 - 1,0100

Targets for a downlink wave option:

0,9807 - 76,4% by Fibonacci

General conclusions and trading recommendations:

The construction of an upward set of waves continues. The proposed wave 4, in a and in C, has made its internal wave structure complicated and resumed its formation with targets near the calculated mark of 0.9807, which corresponds to 76.4% of Fibonacci. An unsuccessful attempt to break the 0.9807 mark may lead to the completion of the construction of this extended wave.

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