FX.co ★ Wave analysis of the USD / CHF currency pair for October 19, 2017

Analysis of wave counting:

In spite of the existing prerequisites, the pair USD / CHF could not continue the downward movement that had become apparent the day before, adding about 60 pp in price and stopped at midday near the maximum reached on October 6 (0.9835). At the same time, it seems that the currency pair has still completed the formation of a highly extended wave b, 2nd, C. If this is so, then the currency pair may resume the decline of quotations to the level of 0.9675, thus indicating the beginning of the wave c, 2nd, C.

The objectives for the upward wave option:

0.9872 - 100.0% of Fibonacci

0.9950 - 127.2% of Fibonacci

The objectives for the downward wave option:

0.9677 - 38.2% of Fibonacci

0.9628 - 50.0% of Fibonacci

General conclusions and trading recommendations:

Now, wave counting is not entirely unambiguous. The lowering of quotations may resume within the wave c, at 2 in the composition of the future C with targets near the calculated marks of 0.9677 and 0.9628, which equates to 38.2% and 50.0% of Fibonacci. After it is completed, it is expected to resume the increase in quotes within wave 3, from C upward trend with targets above 0.9850.