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Long-term review

Exchange Rates 16.02.2018 analysis

Analysis of wave counting:

Despite the existing conditions, during yesterday's trading, the USD/CHF pair was unable to resume the upward movement and, having lost in price more than 80 pp, fell to the level of 0.9285 until the end of the day. At the same time, it seems that the currency pair remained in the stage of formation, considerably complicating its wave structure, the 2nd wave, in a, in the 4th, in C, in (2), in A, in (B). If this is the case, the currency pair can resume the growth of quotations at any time and mark the beginning of the 3rd wave, in a, in the 4th, in C, in (2), in A, in (B). At the same time, it should be noted that the probability of price decline to the level of 0.9200 and, as a result, even more complication of the internal wave structure of the entire 3rd wave, in C, in (2), in A, in (B), in still retains its relevance.

Targets for an upward wave option:

0.9478 - 38.2% by Fibonacci

0.9548 - 50.0% by Fibonacci

Targets for a downward wave option:

0.9200 - 0.9100

General conclusions and trading recommendations:

The currency pair continues to build a downward set of waves. The assumed wave 3, in C, in (2), in A, in (B) once again could complete its construction, however, it may yet again complicate its internal structure and reach the 92 figure. If the assumption of the beginning of the construction of wave 4 in C, in (2), in A, in (B) is true, then the increase in quotations will resume with targets located near the estimated marks of 0.9478 and 0.9548, which corresponds to 38.2% and 50.0% of Fibonacci. Convergence MACD_aka warns about the inclination of the trading instrument to rise.

*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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