Analysis of wave counting:
Having started yesterday's trading with the upward movement, the pair USD / CHF reached the level of 0.9785 and only after that it fell back almost by 60 percentage points from the high of the beginning of the European session. The resulting wave situation allows us to assume that the currency pair began to complicate the wave structure of the 1st wave, as part of the future C, trying to complete its inner 3rd wave. If this is the case, then before the growth of quotations to the level of the 99th figure continues, the currency pair can go to the stage of formation of the 4th wave, in the 1st, in C, with the prospect of price reduction to the level of 0.9670, to the level of 0.9600.
The objectives for the option with an upward wave:
0.9763 - 61.8% of Fibonacci
0.9805 - 76.4% of Fibonacci
0.9872 - 100.0% of Fibonacci
Goals for the option with a downward wave:
0.9670 - 0, 9600
General conclusions and trade recommendations:
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. However, the entire internal wave structure of wave C is very complicated. Within the framework of the correction wave in the composition of 1, C, a decrease from 0.9670 to 0.9600 may be possible.
