Wednesday, October 4, 2017

FORECAST FOR USDCHF

INTRADAY CHART
BIAS:              We should see a move down into the 0.9670-86 area for a correction higher

Resistance:   0.9732          0.9753          0.9766     0.9785

Support:        0.9706-12     0.9670-86     0.7642     0.9615

MAIN ANALYSIS:            The 0.9775-00 area was hit - the high at 0.9785. This has provoked the expected reversal and this should see losses into the 0.9670-86 range (being the Wave v and first reversal target.) Thus, we shall need a pullback higher - depth unknown. However, we should still see losses resume later and down below 0.9670...

COUNTER ANALYSIS:    Any earlier break above 0.9807 would maintain the rally but I'll have to work through a lot of the daily structure… 

Good trading
Ian Copsey

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