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17.05.2018 09:44 AM
Wave analysis of the USD / CHF currency pair for May 17, 2018

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Analysis of wave counting:

In the conditions of low activity of yesterday's trades, the currency pair USD / CHF also conducted in the range, remaining near the level of price parity. Thus, it can be assumed that the currency pair still made attempts to transition to the stage of formation of the wave 3, 1, C, (2), A, (B). At the same time, the currency pair continues to maintain the potential for further complicating the internal wave structure of wave c, c, B, (2), A, (B) and resume growth of quotations, at least to the level of 1.0100.

The objectives for the option with purchases:

1.0064 - 76.4% of Fibonacci

1.0100 - 1.0150

The objectives for the option with sales:

0.9896 - 61.8% of Fibonacci

0.9761 - 50.0% of Fibonacci

General conclusions and trading recommendations:

The currency pair supposedly completed the construction of the wave c, c, B, (2), A, (B). Thus, I recommend now to sell the pair with targets near the estimated mark of 0.9896, which is equivalent to 61.8% of Fibonacci, within the first wave of the future wave 1, C, (2), A, (B). I recommend to start buying the pair in case of a successful attempt to break through the mark of 1.0064, which corresponds to 76.4% of Fibonacci, with targets in the range of 1.0100 - 1.0150, which will complicate the internal structure of wave B, (2), A, (B) and further increase in quotes.

Chin Zhao,
Analytical expert of InstaForex
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