Analysis of wave counting:
Having stood almost the whole past day in a very narrow price range, the pair USD / CHF made an unsuccessful attempt to continue the upward movement only at the beginning of the American session and returned to its starting position until the end of trading. It can be assumed that the currency pair still remained in the stage of formation of the first generating waves in the composition of the future wave C, keeping prospects for the growth of quotations to the levels of the 99th figure. At the same time, the likelihood of resuming price reduction and a significant complication of the internal wave structure of wave b, c, E, B has not lost its relevance.
Targets for the upward wave option:
0.9600 - 0.9800
Targets for the downward wave option:
0.9395 - 76.4% of Fibonacci
0.9315 - 100.0% of Fibonacci
General conclusions and trading recommendations:
Wave counting has undergone making adjustments. The wave E, B can take a more complicated form and the lowering of quotations may resume with targets located near the estimated marks of 0.9395 and 0.9315, which equates to 76.4% and 100.0% of Fibonacci. If this wave is still completed, then now we see the construction of the first waves in the future C with goals between 96 and 98 figures (the goals will be further specified).
