Analysis of wave counting:
Yesterday's publication of the minutes of the last meeting of the FOMC did not allow the USD / CHF pair to break through the maximum (0.9770) reached on August 8, and therefore, until the end of the day, the price fell below the level of 0.9650. At the same time, it can be assumed that despite such a significant decline, the currency pair remained within the 3rd wave, 1st, in the future C, in which its 2nd wave took a somewhat extended form. If this is the case, then from the low of the past day (or slightly lower), the currency pair will resume the growth of quotations and mark the beginning of the 3rd wave, 3rd, 1st, C.
The objectives for the upward wave option:
0, 9750 - 0.9800
0.9900
Goals for the downward wave option:
0.9647 - 38.2% by Fibonacci
0.9609 - 50.0% by Fibonacci
General conclusions and trading recommendations:
Wave E, B completed its construction. Now the construction of the proposed wave C is ongoing. Thus, now it is possible to raise quotations within the wave 3, 1, C with targets located around 98 figures (the goals will be further specified). The assumed wave 2, 1, C is completed. The construction of a correctional wave 2, 3, 1, C should also be completed in the near future.
