Analysis of wave counting:
On the wave of strengthening the dollar at the beginning of yesterday's European session, the pair USD / CHF resumed the upward movement, adding a little more than 100 pp in price and worked out the level of 0.9975 at the end of the day. Thus, it seems that the currency pair has confirmed the transition to the stage of formation of the third wave, 3rd, C. If this is so, then the internal wave structure of this third wave, 3rd, C, allows the currency pair to continue the growth of quotations, at least to the level of price parity.
The objectives for the construction of an upward wave:
1.0022 - 76.4% of Fibonacci
1.0100
The objectives for the construction of a downward wave:
0.9863 - 38.2% of Fibonacci
0.9800
General conclusions and trading recommendations:
The construction of the ascending set of waves continues. The increase in quotations may continue within the wave 3, 3, in the future C with targets near the estimated level of 1.0022, which is equivalent to 76.4% of Fibonacci and above about 101 figures. Within the next corrective wave in the composition of 3, C, the decline may begin with the targets near the mark of 0.9863, which corresponds to 38.2% of Fibonacci.
