18.08.201709:32 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for August 18, 2017

Long-term review

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Analysis of wave counting:

The attempt to resume the upward movement ended yesterday with failure and from the midday high (0.9697), the price of the pair USD / CHF fell by more than 90 pp, to the level of 0.9605. In spite of such significant volatility, it can be assumed that the currency pair remained within the 3rd wave, in the 1st, in the future C, further complicating its internal 2nd wave. If this is the case, the currency pair has retained the potential to resume the growth of quotations and yet to mark the beginning of the 3rd wave, 3rd, 1st, C.

The objectives for the upward wave option:

0.9750 - 0.9800

0.9900

Goals for the downward wave option:

0.9609 - 50.0% by Fibonacci

0.9670 - 61.8% by Fibonacci

General conclusions and trading recommendations:

Wave E, B completed its construction. Now the construction of the proposed wave C continues. Thus, now it is possible to raise quotations within the framework of wave 3, 3, 1, C with targets located around 98 figures (the goals will be specified). The assumed wave 2, 1, C is completed. The construction of a correctional wave 2, 3, 1, C, should also be completed in the near future. An unsuccessful attempt to break through the mark of 0.9609 may lead to the completion of the correction wave.

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