FX.co ★ Wave analysis of the USD / CHF currency pair for August 31, 2017

Analysis of wave counting:

After a short delay around 0.9550, the pair USD / CHF continued the upward movement, which began on the previous day and at the end of the day was able to work out the mark of 0.9640. At the same time, it seems that the currency pair continued the process of forming the wave C, as part of a complex correctional structure, which developed from the July 21 low and probably, is an integral part of the even more complex form of the wave E, B. If this is the case, then an attempt to test the level of the 97th figure may allow the currency pair to resume the decline of quotations with the prospect of a price return to the level of 0.9450.

The objectives for the upward wave option:

0.9700 - 0.9800

Goals for the downward wave option:

0.9400 - 0.9300

General conclusions and trading recommendations:

The day before yesterday, the drop in quotations "broke" all the wave counting that had developed earlier. At the moment, it is possible to continue increasing quotations from the reached lows within the proposed wave C with targets located about 97 and 98 figures. At the same time, all wave counting can soon incur additional adjustments and changes.