USD / CHF pair review for a week from May 16 on simplified wave analysis

Wave picture of the D1 chart:

The upward trend, which was actual for this scale of the chart, was launched on February 16. In a larger bullish wave model, the site began testing the final part (C). The preliminary recovery potential is estimated at about 3 price figures.

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The wave pattern of the graph H1:

The bullish wave has a pronounced impulsive character of motion. The level of intermediate resistance has been reached. The last weeks are forming a counter-rollback.

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The wave pattern of the M15 chart:

Bearish wave counts from May 7. Its wave level, like the reduction potential, is small.

Recommended trading strategy:

Mid-term to continue to hold long positions, with the possibility of "topping" at the end of the correction. For intraday trading, it makes sense to refrain from selling and wait for signals to buy.

Resistance zones:

- 1.0050 / 1.0100

Support zones:

- 0.9940 / 0.9890

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.n.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

The material has been provided by InstaForex Company - www.instaforex.com