Analysis of wave counting:
Having started yesterday's European session with a downward movement, the pair USD / CHF lost more than 90 pp in price and at the end of the day reached 0.9920. The resulting wave situation makes it possible assume that the currency pair still complicated the wave structure of the 4th wave, in C, having moved to the stage of formation of its internal wave. If this is the case, then from the already reached yesterday low, or after a decline to the level of 0.9885, the currency pair will resume the growth of quotations and thus still mark the beginning of the 5th wave, in C.
Targets for an upward wave option:
1.0080 - 1.0100
Targets for a downward wave option:
0.9922 - 38.2% by Fibonacci
0.9886 - 50.0% by Fibonacci
General conclusions and trading recommendations:
The assumed wave 3, in C can be completed. If this assumption is correct, then the lowering of quotes will continue within the limits of wave 4 in composition C with targets near the estimated levels of 0.9922 and 0.9886, which equates to 38.2% and 50.0% of Fibonacci. An unsuccessful attempt to break the 0.9922 level can lead to the completion of the wave 4. Convergence MACD_aka warns of the willingness of the instrument to resume the increase in quotes.
