21.02.201809:36 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for February 21, 2018

Analysis of wave counting:

After the Monday's pause, yesterday's trading of the USD / CHF currency pair started with an upward movement, having added almost 90 percentage points in price and was able to work out the mark of 0.9370 at the end of the day. At the same time, despite such a significant increase in the price from the minimum reached on Friday, we can assume that the currency pair remained in the formative stage of a highly extended form of the wave 4, 5, 3, C, (2), A, (B). If this is the case, then from the maximum of the past day, the currency pair will resume the decline of quotations to the level of 0.9150, or even to the level of the 90th figure, thus denoting the beginning of the wave 5, 5, 3, C, (2), A, (B).

The objectives for the option with an upward wave:

0.9400

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 lowering of quotations may resume within the inner wave 5 with targets located near the calculated marks of 0.9194 and 0.9152, which corresponds to 127.2% and 161.8% of Fibonacci, after the completion of the correction wave 4.