17.01.201810:31 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for January 17, 2018

Analysis of wave counting:

In general, it is expected that in the middle of yesterday's trading, the pair USD / CHF was able to resume the downward movement and reached the level of 0.9580 at the end of the day. Thus, it seems that the currency pair continued to remain in the final stage of the formation of the wave c, e, b, a, C. If this is so, working off the calculated target near the mark of 0.9565-0.9555, or a price decline to the level of 0.9550, may allow the currency pair to complete wave b, a, C and denote the beginning of the future wave c, a, C.

The objectives for building an upward wave:

1.0004 - 127.2% of Fibonacci

1.0050 - 161.8% of Fibonacci

The targets for the downward wave option:

0.9656 - 61.8% of Fibonacci

0.9600

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. The assumed wave b, a, C, continues its construction. If this assumption is correct, then now the decline in quotes will continue with targets near the estimated mark of 0.9656, which is equivalent to 61.8% of Fibonacci. An unsuccessful attempt to break through the mark of 0.9656 can lead to the completion of the construction of the entire wave e, b, a, C. The MACD convergence also warns about the readiness of the tool to increase.