Analysis of wave counting:
Having failed to gain a foothold above the 0.9750 mark, at the beginning of yesterday's European session, the pair USD / CHF began to decline and broke through the level of the 97th figure at the end of the day. At the same time, it can be assumed that despite such a drop in price, the currency pair still remained in the stage of formation of an increasingly more complex form of the internal wave structure of the 3rd wave as part of the future wave C. If so, the currency pair retained the potential allowing to resume the growth of quotations in the direction of 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 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. The upward corridor keeps prospects for an increase in the currency pair.
