Analysis of wave counting:
On Tuesday, after the breakdown of the 0.9770 mark, the pair USD / CHF started a downward movement, having lost about 190 pp and tested the level of the 96th figure at the end of the week. At the same time, as a result of such a significant reduction in prices, there appeared grounds to consider the maximum of August 8 (0.9770) as the top of the 1st wave, as part of the future (C). If this is so, then the completion of the 2nd wave, in (C), will lead to a resumption of the growth of quotations and will mark the beginning of the 3rd wave, in (C).
The objectives for an upward wave option:
0.9801 - 76.4% by Fibonacci
0.9900 - 1.0000
Targets for a downward wave option:
0.9555 - 127.2% by Fibonacci
0.9388 - 161.8 % by Fibonacci
0.9300
General conclusions and trading recommendations:
The wave counting of the instrument assumes the completion of the construction of the wave e, C, C, (B). If this assumption is correct, then the instrument can resume the upgrade with targets near the mark of 0.9801, which equates to 76.4% of Fibonacci, above about 99 and 100 figures within wave 3 and (C).
