Analysis of wave counting:
Generally, as expected, trades in the USD/CHF pair last week the started with the upward movement and, having added in price more than 200 pp, during the Friday session broke the level of price parity. The resulting wave situation allows the assumption that the currency pair has confirmed the completion of wave b, in a, in (C) and the transition to the stage of wave formation with wave c, in a, in (C). If this is the case, then the currency pair has good prospects for further growth of prices to around 1.0120, although on a rather difficult upward trajectory.
Objectives for an upward wave option:
1,0022 - 76.4% by Fibonacci
1.0120 - 100.0% by Fibonacci
Objectives for a downward wave option:
0.9800 - 0.9900
General conclusions and trading recommendations:
The wave C, in C, in (B) has completed its construction. The increase in quotations may continue with targets near the estimated levels of 1.0022 and 1.0120, which equates to 76.4% and 100.0% of Fibonacci, within the limits of wave c, in a, in (C). After the completion of the construction of this wave, there is an expected decline in quotations within the wave b, in (C). The MACD_aka divergence cautions about the readiness of the trading instrument to retreat from the highs reached. An unsuccessful attempt to overcome 1.0022 may lead to the construction of a new corrective wave.
