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03.05.201809:32 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for May 3, 2018

Long-term review

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Analysis of wave counting:

As expected, in the second half of yesterday's trading, the pair USD / CHF was able to continue developing the upward movement and to test the level of price parity at the end of the day. The wave pattern that formed in this case still allows us to assume that the currency pair remained in the formative stage of the highly elongated form of wave 5, c, c, B, (2), A, (B). If this is so, the currency pair has kept the potential for further growth of quotations, at least to around 1.0060.

The objectives for the option with an upward wave:

1.0060 - 76.4% of Fibonacci

The objectives for the option with a downward wave:

0.9751 - 50.0% of Fibonacci

0.9625 - 38.2% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build an uptrend. The wave counting has undergone certain changes, within the limits of the wave c, c, B, (2), A, (B), the quotations continue to rise with the targets near the calculated mark of 1.0060, which corresponds to 76.4% of Fibonacci. After the completion of the construction of this wave, a long decline is expected within the framework of wave C, (2), A, (B).

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