Analysis of wave counting:
The attempt to continue the development of the downward correction on Friday failed, and after testing the 0.9950 mark, the price for the USD/CHF pair returned to the parity-level region. It can be assumed that the currency pair remained in the stage of formation of the 4th wave, in C, which until the end of the day retained the elements of some incompleteness. At the same time, one can not exclude the fact that the indicated rise of quotations can be further developed, and the wave structure of the third wave, in C, will take an even more 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 composition 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 can further complicate its internal structure with targets that are above the price parity. In favor of this option, it can be two unsuccessful attempts to break through the mark of 0.9966.
