01.05.201809:56 Forex Analysis & Reviews: Wave analysis of the USD/CHF currency pair for May 1, 2018

Analysis of wave counting:

Yesterday the USD/CHF pair held within a fairly narrow price range, trading around the level of the 99th figure. At the same time, despite the formation of a double vertex, it seems that the currency pair has remained within the slightly more complex form of the 5th wave, in c, in c, in B, in (2), in A, in (B) . If this is the case, then the currency pair has the potential to perform a turn and transition to the stage of formation of the first generating waves in the composition of the future wave C, in (2), in A, in (B).

Targets for building an upward wave:

0.9896 - 61.8% by Fibonacci

1,0000

Targets for building a downward wave:

0.9751 - 50.0% by Fibonacci

0.9625 - 38.2% by Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build an upward trend. Wave counting has undergone certain changes, within the limits of wave c, in c, in B, in (2), in A, in (B), the quotations continue to rise with targets near the estimated mark of 0.9896, which corresponds to 61.8% Fibonacci, and above, near the price parity. After the completion of the construction of this wave, a long decline is expected within the framework of wave C, in (2), in A, in (B).