Analysis of wave counting:
The unsuccessful attempt to gain a foothold above the level of the 98th figure ended in the second half of Friday's trading with failure and the subsequent rebound in the pair USD / CHF price by more than 60 percentage points from the maximum reached in the middle of the day (0.9835). The resulting wave situation allows us to assume that the currency pair remained in the formative stage of assuming an increasingly complex form of the 3rd wave, 3rd, 1st, C. If this is so, the currency pair retains the potential for renewal upward movement in the direction of 0.9900.
Targets for the option with an upward wave:
0.9872 - 100.0% of Fibonacci
Goals for the downward wave option:
0.9700 - 0.9720
General conclusions and trading recommendations:
Wave counting is not entirely unambiguous. The increase in quotes may continue within the first wave in the composition of the future C with a target of about 0.9872, which is equivalent to 100.0% of Fibonacci. The entire internal wave structure of wave C is very complex. Within the framework of the correction wave in composition 1, C, a slight decrease from 0.9700 to 0.9720 is possible. The upward corridor preserves the prospects of building an uptrend section of the trend. The MACD divergence warns of the willingness of the instrument to build a downward wave.
