FX.co ★ Wave analysis of the USD/CHF currency pair for October 30, 2017

Analysis of wave counting:

As generally expected, the USD/CHF pair trades on Friday started from the upward movement and after the breakdown of the price parity level, it fell by almost 70 pp. from the highs reached in the middle of the day (1.0035). Thus, the emerging wave situation makes it possible to assume that the currency pair has completed the formation of the third wave, in the composition of the increasingly complex form, the 3rd wave, in C. If this is the case, after the 4th wave is completed, in the third, in C, the currency pair will resume the growth of quotations in the direction of 1.0080 mark, or even the level of 1.0100.

Objectives for an upward wave option:

1,0022 - 76.4% by Fibonacci

1.0080 - 1.0100

Objectives for a downward wave option:

0.9900 - 0.9950

General conclusions and trading recommendations:

The construction of the ascending set of waves continues. The increase in prices may resume within wave 5, in 3 in future C with targets near the estimated level of 1.0022, which equates to 76.4% Fibonacci, and above, about 101 figures. Within the next corrective wave in the composition of 3, in C, the quotes began to fall with targets in the range of 0.9900-0.9950.