FX.co ★ Wave analysis of the USD / CHF currency pair for September 20, 2017

Analysis of wave counting:

In the conditions of the uncertainty on the market, the pair USD / CHF held within the narrow enough price range, limited by the level of the 96th figure and the mark of 0.9650. It seems that the currency pair continued to be in the stage of formation of the first generating waves in the future wave C, with the prospect of further growth of quotations to the levels of the 99th figure. At the same time, the currency pair retains the potential to resume price reductions, and thus significantly complicate the internal wave structure of wave b, c, E, B.

Targets for an upward wave option:

0.9600 - 0.9800

Targets for a downward wave option:

0.9395 - 76.4% of Fibonacci

0.9315 - 100.0% of Fibonacci

General conclusions and trading recommendations:

Now, wave counting is not entirely unambiguous. 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 further specified).