FX.co ★ Wave analysis of the USD / CHF currency pair for September 8, 2017

Analysis of wave counting:

Having started the yesterday's European session with the resumption of the downward movement, the pair USD / CHF lost about 40 percentage points and was able to test the level of the 95th figure in the second half of the day. At the same time, it can be assumed that the currency pair remained in the stage of formation of the near wave c, b, in the composition of the future wave C. If this is so, then a repeated breakdown of the level of 0.9500 could lead to a price reversal in favor of the dollar, the turn will designate the beginning of the future wave c, C.

The objectives for the option with an upward wave:

0.9700 - 0.9800

Objectives for the downward wave option:

0.9500

0.9400 - 0.9300

General conclusions and trade recommendations:

Wave counting has become very ambiguous and may require adjustments at any time. It is now possible to resume the increase in quotations from the reached lows within the proposed wave C with targets located about 97 and 98 figures (these goals will be further clarified). At the moment, the proposed corrective wave is being constructed in the composition of the future C with targets that are about 95 figures.