Analysis of wave counting:
During the Friday's trading, the pair USD / CHF still continued its decline and after reaching the 0.9580 mark it retreated by more than 50 percentage points from the already reached minimum. At the same time, it can be assumed that the currency pair was in the formation stage of the wave c, 2nd, 1st and in the future C. If this is so, then the strong divergence of the MACD indicates that the testing of the 0.9570 mark can lead to the resumption of growth of quotations which in turn will mark the beginning of the 3rd wave, 1st, C.
The objectives for the upward wave option:
0.9750 - 0.9800 0.9900
Objectives for the downward wave option:
0.9570 - 61.8% by Fibonacci
0.9522 - 76.4% by Fibonacci
General conclusions and trading recommendations:
Wave E, B completed its construction. Now the construction of the proposed wave C continues. Thus, it is now possible to continue the decline of quotations within the framework of the correctional wave 2, 1, C with targets located near the calculated marks of 0.9570 and 0.9522, which corresponds to 61.8% and 76.4% 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. The MACD convergence warns of the readiness of the instrument to increase.
