For Traders

Analytical Reviews

Wave analysis

22.09.201709:35 Forex Analysis & Reviews: Wave analysis of the USD / CHF currency pair for September 22, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Analysis of wave counting:

Despite the USD/CHF pair was unable to continue the upward movement, it reached the level of 0.9750 and returned to the area of opening day levels in the second half of yesterday's trading session. Thus, it seems that the pair confirms the transition to the stage of forming the first waves in the wave of the future C. At the same time, the resumption of reduction of quotations will most likely significantly complicate the entire wave structure where the beginning of the year highs will be developed and the need to revise the wave composition in B.

Targets for an upward wave option:

0.9763 - 61.8% Fibonacci retracement

0.9805 - 76.4% Fibonacci retracement

Targets for a downward wave option:

0.9395 - 76.4% of Fibonacci

0.9315 - 100.0% Fibonacci retracement

General conclusions and trading recommendations:

Currently, the wave formation is not entirely unambiguous. The wave E, in B can take a more complicated form, and the decline of prices may resume towards the targets located near the estimated marks of 0.9395 and 0.9315, with 76.4% and 100.0% Fibonacci, respectively. If this wave is completed, the first wave in the future C is created with targets near the estimated levels of 0.9763 and 0.9805 corresponding to 61.8% and 76.4% Fibonacci.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.