Analysis of wave counting:
Despite the rather low activity of trading last week, on Wednesday, the pair USD / CHF was able to update the previously reached high and on Friday, returned to the opening levels of the trading session on Monday. Thus, we can assume that the currency pair has nevertheless moved to the stage of formation of the first generating waves in the composition of the future wave (C). If this is the case, the maximum of the medium (0.9770) may turn out to be the vertex of the 1st wave in (C), and the subsequent price decrease at the beginning of the 2nd wave, in this (C).
The objectives for an upward wave option:
0.9801 - 76.4% of Fibonacci
0.9900 - 1.0000
Goals for a downward wave option:
0.9388 - 161.8% of Fibonacci
0.9200
General conclusions and trading recommendations:
The wave counting of the instrument becomes more complicated, and wave C, C, (B) is supposedly completed. The lowering of quotations may still resume with targets near the 0.9388 mark, which is equivalent to 161.8% of Fibonacci and lower about 92 figures, if the wave e, C, C, (B) becomes even more complicated. More likely developments will be a further increase in quotations within the first wave as part of the future (C) with goals located between 98 and 100 figures.
