FX.co ★ Wave analysis of the USD / CHF currency pair for October 6, 2017

Analysis of wave counting:

Having failed to form a more significant downward correction during the yesterday's European session, the pair USD / CHF began with the growth of quotations, adding more than 50 pp in price and stopped at several points from the level of the 98th figure at the end of the day. At the same time, it seems that the currency pair has significantly complicated the internal wave structure of the 3rd wave, in the 1st, in C, which can also take an even more complex and extended form. If so, the currency pair retained the potential for further development of the upward movement to the level of 0.9900, although on a rather complex upward trajectory.

Goals for the upward wave option:

0.9805 - 76.4% of Fibonacci

0.9872 - 100.0% of Fibonacci

Goals for the downward wave option:

0.9670 - 0.9600

General conclusions and trading recommendations:

Wave counting is not entirely unambiguous. The increase in quotes may continue within the first wave in the composition of the future C with the targets being about 0.9805 and 0.9872, which is equivalent to 76.4% and 100.0% of Fibonacci. However, the entire internal wave structure of wave C is very complicated. Within the framework of the correctional wave in the composition of 1, C, a slight decrease in the area of 0.9670-0.9600 is possible.