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Exchange Rates 01.02.2018 analysis

Analysis of wave counting:

The previously developed dynamics of the downtrend did not allow the USD / CHF pair to reverse and until the end of the last day, the price returned to a minimum from January 25, stopping at 0.9290. At the same time, it seems that the currency pair will continue to decrease quotations and, thereby, further complicate the internal wave structure of the 5th wave, 3rd, C, (2), A, (B). At the same time, at the close of yesterday's US session, the probability of the currency pair moving to the stage of formation of the 4th wave, C, (2), A, (B), has not lost its relevance.

The objectives for the option with an upward wave:

0.9551 - 38.2% of Fibonacci

0.9632 - 50.0% of Fibonacci

The objectives for a downward wave option:

0.9300 - 0.9200

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. All wave counting has undergone certain changes. The assumed wave 3, C, (2), A, (B), may have completed its construction. Thus, the increase in quotations may begin within the framework of the correctional wave 4 with targets near the estimated levels of 0.9551 and 0.9632, which corresponds to 38.2% and 50.0% of Fibonacci. There is a sufficiently high probability of a strong complication of the wave 3, C, (2), A, (B) and the continuation of the decline in quotations.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Chin Zhao,
Analytical expert
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