FX.co ★ Wave analysis of the USD / CHF currency pair for October 13, 2017

Analysis of wave counting:

The breakdown of the lower forming line of the uplink channel led yesterday to the expected rebound of the pair USD / CHF price by more than 50 pp from the minimum reached at the beginning of the European session (0.9710). The resulting wave situation allows us to assume that the currency pair still remained in the stage of formation of the third wave, 3rd, 1st, C, completing its internal 4th wave. If this is the case, then the already marked growth of quotations can be further developed in the direction of the level of the 99th figure.

Targets for the upward wave option:

0.9872 - 100.0% of Fibonacci

0.9950 - 127.2% of Fibonacci

Goals for the downward wave option:

0.9700 - 0.9720

General conclusions and trading recommendations:

Now, wave counting is not entirely unambiguous. The increase in quotations may resume within the first wave as part of the future C with targets near the estimated levels of 0.9872 and 0.9950, which is equivalent to 100.0% and 127.2% of Fibonacci. The internal wave structure of wave C assumes a very complex form. The upward corridor preserves the prospects for building an uptrend section of the trend. The correction wave 4, 3, 3, 1, C is supposedly complete.