03.02.201801:57 Forex Analysis & Reviews: Wave analysis of the USD/CHF currency pair for February 2, 2018

Analysis of wave counting:

In the course of yesterday's trading, the USD/CHF pair resumed the downward movement and, having lost more than 80 pp from the maximum of the European session, reached the level of 0.9255 at the end of the day. At the same time, we can assume that, having failed to complete the turn, the currency pair remained in the formative stage of the fifth wave, which took the form of a five-wave structure, in the third wave, in C, in (2), in A, in (B). If this is the case, then during the development of the 5th wave, in this 5th, in the 3rd, in C, in (2), in A, in (B), the currency pair will continue to decline in quotes, at least to the level 92-th figure.

Targets for an upward wave option:

0.9551 - 38.2% by Fibonacci

0.9632 - 50.0% by Fibonacci

Targets for a downward wave option:

0.9200 - 0.9100

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. All wave counting has undergone certain changes. The assumed wave 3, in C, in (2), in A, in (B) resumed its construction. Thus, the lowering of quotations may continue with the targets located about 92 and 91 figures.