Analysis of the wave counting:
Yesterday's USD / CHF trades began with the continuation of the upward movement, which was indicated on the eve of the day, adding more than 80 pp in the price and reached the level of 0.9770 in the middle of the day. At the same time, it can be assumed that the currency pair remained at the stage of formation assuming the increasingly complex form of the 3rd wave as part of the future wave C. If this is so, then, as the price managed to break a maximum of a week ago (0.9750) the currency pair had good prospects for further growth of quotations to the level of the 99th figure.
The objectives for an upward wave option:
0.9763 - 61.8% of Fibonacci
0.9805 - 76.4% of Fibonacci
0.9872 - 100.0% of Fibonacci
Targets for a downward wave option:
0.9395 - 76.4% of Fibonacci
0.9315 - 100.0% of Fibonacci
General conclusions and trading recommendations:
Now, wave counting is not entirely unambiguous. The wave E, B can be completed. In this case, the increase in quotations will continue in the future within the first waves in the future C with the targets being about 0.9763, 0.9805 and 0.9872, which is equivalent to 61.8%, 76.4% and 100.0% of Fibonacci.
