07.02.201810:08 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for February 7, 2018

Analysis of wave counting:

Having resumed the upward movement at the beginning of yesterday's trading, the pair USD / CHF was able to add about 90 percentage points in price and stopped before the level of the 94th figure in the afternoon. It can be assumed that the currency pair continued to make attempts to transition to the stage of formation of the first generating waves in the composition of the future wave 4, C, (2), A, (B). At the same time, the currency pair retained the potential for further complicating the internal wave structure of the entire wave 5, 3, C, (2), A, (B) and in the decline of quotations, to the level of 0.9200.

The objectives for the option with an upward wave:

0.9478 - 38.2% of Fibonacci

0.9548 - 50.0% of Fibonacci

The objectives for the option with a downward wave:

0.9200 - 0.9100

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. The assumed wave 3, C, (2), A, (B) once again could complete its construction, however, it may yet again complicate its internal structure and reach the 92nd figure. If the assumption of the beginning of the construction of wave 4, C, (2), A, (B) is true, then the increase in quotations will continue with the targets located near the calculated marks of 0.9478 and 0.9548, which corresponds to 38.2% and 50.0% of Fibonacci.