06.02.201809:33 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for February 6, 2018

Analysis of wave counting:

Having failed to continue the designated upward movement, at the end of yesterday's US session, the pair USD / CHF started a pullback from the already reached local maximum (0.9375) and as a result, returned to the opening levels of the day. At the same time, it can be assumed that under the conditions of high volatility, the currency pair made another attempt at the completion of the wave 5, 5, 3, C, (2), A, (B) in the stage of formation of the future wave 4, C, (2), A, (B). At the same time, the currency pair, so far, retains the potential, allowing it to resume the decline in quotations and, nevertheless, to work out the level of the 92nd figure.

The objectives for the option with an upward wave:

0.9551 - 38.2% of Fibonacci

0.9632 - 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, nevertheless, it may yet again complicate its internal structure by reaching 92 figures. 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 of about 95 and 96 figures.