Analysis of wave counting:
At the beginning of the Friday's trading, after a short delay around the level of the 97th figure, the pair USD / CHF continued its price decline and reached the level of 0.9670 in the second half of the day. At the same time, it can be assumed that the currency pair still remained in the formation stage of the increasingly complex form of the 3rd wave as part of the future C, thus allowing the probability of resuming the upward movement to the level of 0.9900. At the same time, it should be noted that if the quotes continue to decline, the entire upward trend segment, which starts from the September 8 low and closes at the 0.9770 mark, can be considered as a full five-wave structure.
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 may 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. Now, it looks like the construction of a correctional wave composed of C.
