Analysis of wave counting:
Not finding the grounds for the further development of the upward movement, during the yesterday's trading, the USD/CHF pair lost more than 80 pp. and in the afternoon broke through the mark of 0.9950. At the same time, it seems that near the yesterday's high, the currency pair can complete the 3rd wave, in C, in which its inner 5th wave took a somewhat shorter look. If this is so, then, despite the potential for the resumption of the growth of quotations, the currency can pass to the stage of formation of the 4th wave, in C, which in the long term will take a rather complex and extended form in time.
Targets for an upward wave option:
1.0080 - 1.0100
Targets for a downward wave option:
0.9966 - 23.6% by Fibonacci
0.9922 - 38.2% by Fibonacci
General conclusions and trading recommendations:
The assumed wave 3, in C can be completed. If this assumption is correct, then the declining of quotations will continue within the wave 4 in the construction of C with targets near the estimated levels of 0.9966 and 0.9922, which is equivalent to 23.6% and 38.2% of Fibonacci. Wave 3, in C may further complicate its internal structure with targets that are above the price parity.
