Analysis of wave counting:
On the last day of the previous week, the pair USD / CHF continued its slow decline, which ended after the breakthrough of the level of the 96th figure with the subsequent rebound of the price by more than 80 pp from the already reached minimum. Thus, despite the return of the currency pair to the minimum of August 11, the situation allows us to assume that the currency pair has so far remained within the 3rd wave, in the 1st, in the future C, considerably complicating its internal 2nd wave. If this is the case, the currency pair may resume the growth of quotations and still indicate 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:
0.9609 - 50.0% by Fibonacci
0.9570 - 61.8% by Fibonacci
General conclusions and trading recommendations:
Wave E, B has completed its construction. Now the construction of the proposed wave C continues. Thus, now it is possible to raise quotations within the framework of wave 3, 3, 1, C with targets located around 98 figures (the goals will be specified). The assumed wave 2, 1, C is completed. The correction wave 2, 3, 1, C is most likely completed. The unsuccessful attempt to break through the mark of 0.9609 led to the withdrawal of quotations from the minimum reached.
