Analysis of wave counting:
As expected, on Friday, the USD/CHF pair started trading after the price declined from the previously reached lows and at the end of the day it was steady at 0.9960. Looking at this fully completed wave c, in the 4th, in C, makes it possible to assume that the currency pair made attempts to go to the stage of forming the first generation of waves in the composition of the future 5th wave, in C. If this is so, then the already indicated growth quotes can be further developed in the direction of levels 1.0050-1.0100.
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 is completed. The decline of quotations may continue within wave 4 in the composition of C with targets near the estimated levels of 0.9922 and 0.9886, which equates to 38.2% and 50.0% of Fibonacci. However, an unsuccessful attempt to break the 0.9922 mark suggests the completion of wave 4. The MACD_aka convergence also indicates the inclination of the trading instrument to resume the increase in quotes.
