Analysis of wave counting:
Yesterday's USD / CHF trades started with a downward movement, losing more than 130 percentage points by the beginning of the European session and falling to the level of 0.9610. The wave situation formed in this case allows us to consider the maximum of the first wave as the vertex of the first wave, in the first wave, as part of the future C. If this is so, then before marking the beginning of the 3rd wave, in the 1st, in C, the currency pair can test the level of the 96th figure, or continue the decline of quotations to the level of 0.9570.
Targets for the upward wave option:
0.9750 - 0.9800
0.9900
Goals for the downward wave option:
0.9609 - 50.0% by Fibonacci
0.9570 - 61.8% by Fibonacci
General conclusions and trading recommendations:
The wave E, B has completed its construction. Now the construction of the proposed wave C continues. Thus, now it is possible to resume the increase in quotations within the wave 3, 1, C with targets located about 98 and 99 figures. It is also possible to continue the decline in quotations within the correction wave 2, 1, C with targets located near the estimated levels of 0.9609 and 0.9570, which corresponds to 50.0% and 61.8% of Fibonacci, since the wave is still not quite complete.
