Analysis of wave counting:
In the course of yesterday's trading, the pair USD / CHF still continued its slow decline in quotes and halted the lower forming line of the rising channel in the afternoon, corresponding to the mark of 0.9715. It can be assumed that while remaining in the stage of formation of the 3rd wave, 3rd, 1st, C, the currency pair completed its internal 4th wave. If this is the case, then practically from the minimum reached yesterday, or slightly lower, the currency pair can resume the upward movement in the direction of the level of the 99th figure.
Targets for the upward wave option:
0.9872 - 100.0% of Fibonacci
0.9950 - 127.25% of Fibonacci
Targets for the downward wave option:
0.9700 - 0.9720
General conclusions and trading recommendations:
Now, the wave counting is not entirely unambiguous. The increase in quotations may resume 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 assumed a very complicated form. Within the framework of the corrective wave in composition 1, C, a slight decrease from 0.9700 to 0.9720 may continue. The upward corridor preserves the prospects of building an uptrend section of the trend.
