Analysis of wave counting:
During the Friday's European session, the pair USD / CHF started with a downward movement and after losing more than 100 pp, reached the level of 0.9550. Thus, the emerging wave situation allows us to consider the entire downward correction, formed from the maximum on August 8, as the 2nd wave (or B), in the future wave C, which also acquired the signs of an incomplete oblique triangle. If this is so, then the apparent decline in quotations may be further developed in the direction of the 0.9520 mark or even the level of the 95th figure.
Targets for the upward wave option:
0.9750 - 0.9800
0.9900
Goals for the downward wave option:
0.9522 - 76.4% of Fibonacci
0.9500
General conclusions and trading recommendations:
The expected upward wave C, in which wave 1 or A is supposedly completed, continues. Thus, now it is possible to lower quotes within the wave 2 or B, in C with targets located near the estimated mark of 0.9522, which is equivalent to 76.4% of Fibonacci and lower about 95 figures. Within the scope of wave 3 or C, in C, a resumption of the growth of quotations is possible.
