Analysis of wave counting:
During the trades of the last week, the USD/CHF pair remained within the limited range of 0.9940-1.0040. It can be assumed that the currency pair was in the stage of formation of the first generating waves in the future wave c, in C on Friday, when it probably attempted to complete the formation of its internal 2nd wave. If this is the case, the 2nd wave, c, in (C), will not take an even more complex and extended form, thus the currency pair can resume the growth of quotations, thereby indicating the beginning of the third wave, c, in (C).
Targets for an upward wave option:
1.0022 - 76.4% by Fibonacci
1.0120 - 100.0% by Fibonacci
Targets for a downward wave option:
0.9800 - 0.9900
General conclusions and trading recommendations:
The trading instrument continues to build the upward wave (C). 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, it quotations are expected to decline within the wave b, in (C). The MACD_aka divergence warns of the inclination of the trading instrument to move away from the highs reached. An unsuccessful attempt to overcome 1.0022 may lead to the construction of a new corrective wave.
