FX.co ★ Wave analysis of the USD / CHF currency pair for September 18, 2017

Analysis of wave counting:

The Friday's trading started with the continuation of the downward movement, which was indicated on the eve. The pair USD / CHF lost about 70 percentage points and in the second half of the day reached the level of 0.9565. The resulting wave situation suggests that the currency pair still remained in the stage of formation of the first generating waves in the composition of the future wave C. If this is so, then practically from the minimum reached on the last day of last week, the currency pair may resume the growth of quotations in the direction of the level 99th figure. At the same time, as noted earlier, the currency pair retains the potential for further price reduction and as a result, a significant complication of the internal wave structure of wave b, c, E, B.

The objectives for an upward wave option:

0.9600 - 0.9800

Targets for the downward wave option:

0.9395 - 76.4% of Fibonacci

0.9315 - 100.0% of Fibonacci

General conclusions and trading recommendations:

The wave counting has undergone adjustments. The wave E, B can take a more complicated form and the lowering of quotations may resume with targets located near the estimated marks of 0.9395 and 0.9315, which equates to 76.4% and 100.0% of Fibonacci. If this wave is still completed, then now we see the construction of the first waves in the future C with goals between 96 and 98 figures (the goals will be more precise).