Analysis of wave counting:
The attempt to continue the development of the upward movement yesterday was not successful, and after working off the mark of 0.9940, the price for the pair USD / CHF fell by 70 pp from the mid-day high. Thus, it can be assumed that despite such a decline, the currency pair remained in the formation stage of the increasingly complex form of the 3rd wave, 3rd, C. If this is so, the currency pair has kept prospects for the resumption of the growth of quotations in the direction of the price parity level.
Targets for the upward wave option:
0.9961 - 61.8% of Fibonacci
1.0022 - 76.4% of Fibonacci
Goals for the downward wave option:
0.9863 - 38.2% of Fibonacci
0.9800
General conclusions and trading recommendations:
Wave counting is not entirely unambiguous. The increase in quotations may continue within the wave 3, 3 in the future C with targets near the estimated levels of 0.9961 and 1.0022, which is equivalent to 61.8% and 76.4% of Fibonacci. Within the next corrective wave, the quotes started to move away from the reached highs with the targets near the mark of 0.9863, which corresponds to 38.2% of Fibonacci.
