Analysis of wave counting:
Yesterday's dollar sales, provoked by the growth of geopolitical instability, led to increased demand for the Swiss currency and before the expected reversal, allowed the pair USD / CHF to continue the decline to the level of 0.9430. At the same time, due to the fact that the currency pair broke through the minimum (0.9440) reached on July 21, there appeared reasons to consider its current position as the process of forming an inclined correction structure, in the form of an even more complex wave, E, B. If this is the case, after the quotes are rolled back to the area of the 97th figure level, the currency pair, nevertheless, will resume the decline, then the wave marking of the wave E, B will still require the introduction of appropriate changes and clarifications.
Goals for the upward wave option:
0.9600 - 0.9800
Targets for the downward wave option:
0.9400 - 0.9300
General conclusions and trading recommendations:
Yesterday's drop in quotes "broke" all the wave counting that had developed earlier. At the moment, it is possible to withdraw quotes from the reached lows within the proposed wave C with targets above 96 figures. In this case, all wave counting can incur additional adjustments and changes.
