For Traders

Analytical Reviews

Wave analysis

22.12.201711:01 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for December 21, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Analysis of wave counting:

Yesterday's attempt to resume the downward movement was unsuccessful and after working towards the mark of 0.9830 during the second half of the day, the price for the USD / CHF pair rebounded by almost 40 percentage points from the minimum price reached. In spite of such a significant rebound, the internal wave structure of the wave c, in b, in c, in a, and in C has acquired a total complete form. At the same time, the currency pair may continue to decline and test the level of the 98th figure before making a turn and marking the beginning of the future wave s, in c, in a, and in c.

Goals for the option with an upward wave:

1,0004 - 127.2% Fibonacci retracement

1,0050 - 161,8% by Fibonacci

Targets for a downlink wave option:

0.9801 - 38.2% Fibonacci retracement

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave b, in c, in a, in C, resumed its construction with targets located near the estimated mark of 0.9801, which corresponds to 38.2% of Fibonacci. After its completion, an increase in quotations is expected with targets higher than the price parity.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.