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24.08.2017 03:12 AM
Wave analysis of the USD / CHF currency pair for August 23, 2017

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Analysis of wave counting:

As expected, yesterday's USD / CHF pair trades started from the upward movement, adding about 70 pp in price and reached 0.9685 in the afternoon. It can be assumed that the currency pair, nevertheless, resumed the formation of the internal wave structure of the 3rd wave, 3rd, 1st, C. If this is so, the currency pair will continue the growth of quotations in the direction of the calculated goals for this 3rd wave, 1st, C located above the level of the 98th figure.

Targets for the upward wave option:

0.9750 - 0.9800

0.9900

Goals for the downward wave option:

0.9609 - 50.0% by Fibonacci

0.9570 - 61.8% by Fibonacci

General conclusions and trading recommendations:

The wave E, B has 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 correction wave 2, 3, 1, C is most likely completed.

Chin Zhao,
Analytical expert of InstaForex
© 2007-2024
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