Analysis of wave counting:
Only a repeat breakdown of the 0.9670 mark allowed the pair USD / CHF to resume the downward movement and finish the day near the minimum reached on Wednesday. It can be assumed that the currency pair remained in the stage of formation of the 2nd wave, in the 1st, as part of the future C, probably completing its internal wave b. If this is so, then before marking the beginning of the 3rd wave, in the 1st, in C, the currency pair will continue to decline quotations to the level of the 96th figure or 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, it is now possible to continue the decline in quotations within the framework of the correctional 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. After the completion of the construction of this wave, the increase in quotations will resume within the assumed wave 3, 1, C.
