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01.03.2018 09:54 AM
Wave analysis of the USD / CHF currency pair for March 1, 2018

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Analysis of wave counting:

The increased interest of the currency market to the dollar allowed the currency pair USD / CHF to start yesterday's trading from the upward movement and work out the mark of 0.9455 at the end of the US session. The current wave situation allows us to assume that the currency pair remained in the final stage of the formation of the wave c, in the form of the horizontal correction wave, the wave 4, 3, C, (2), A, (B). If this is the case, then a fairly strong divergence of MACD indicates the possibility of the beginning of a decline in quotations practically from the maximum of the past day, which in turn will mark the beginning of the future wave d, 4, 3, C, (2), A, (B).

The objectives for the option with an upward wave:

0.9450

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) continues its construction, within the limits of its internal wave d, 4, the reduction of quotations may resume with targets located near the calculated marks of 0.9194 and 0.9152, which corresponds to 127.2% and 161.8% of Fibonacci. The MACD divergence warns about the tool's readiness to decrease.

Chin Zhao,
Analytical expert of InstaForex
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