Analysis of wave counting:
In conditions of the low trading activity, the pair USD / CHF held in the range, remaining near the mark of 0.9750. The wave situation that develops, in this case, allows us to assume that after the completion of the wave a, 2nd, C, on Friday, the currency pair is in the stage of formation of the wave b, 2nd, C. If this is so, then the currency pair will continue to move within the horizontal channel, limited by the marks of 0.9720-0.9780.
The objectives for the option with an upward wave:
0.9872 - 100.0% of Fibonacci
0.9950 - 127.2% of Fibonacci
The objectives for the option with a downward wave:
0.9677 - 38.2% of Fibonacci
0.9628 - 50.0% of Fibonacci
General conclusions and trading recommendations:
Now, wave counting is not entirely unambiguous. The decline of quotations may continue within wave 2 as part of the future C with targets near the estimated levels of 0.9677 and 0.9628, which is equivalent to 38.2% and 50.0% of Fibonacci. After it is completed, it is expected to resume the increase in quotes within wave 3, from C upward trend with targets above 0.9850.
