Trading Conditions
Products
Tools
Analysis of wave counting:
As expected, testing the pair USD / CHF level of the 92nd figure led at the beginning of the Friday European session to a reversal and the subsequent rebound of the price by 100 percentage points from the already reached minimum (0.9185). Thus, the emerging wave situation allows us to assume that, while remaining within the wave 5, 3, C, (2), A, (B), the currency pair denoted its internal 4th wave. If so, the currency pair retained the potential for resuming the decline in quotes towards the calculated targets for this wave 5, 3, C, (2), A, (B), located up to the level of 0.9000.
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:
0.9194 - 127.2% of Fibonacci
0.9152 - 161.8% of Fibonacci
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 complicated its internal structure and reached the 92nd figure. The decline of quotations may continue within the framework of internal wave 5 with targets located near the estimated levels of 0.9194 and 0.9152, which corresponds to 127.2% and 161.8% of Fibonacci.
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.