Analysis of wave counting:
The low level of activity in yesterday's trading did not allow the USD/CHF pair to determine the direction of the movement, as a result of which, in the course of the previous day, the price remained in the range between the levels of 0.9935-0.9985. It seems that the currency pair continued to make attempts to confirm the transition to the stage of formation of the first generating waves in the composition of the future 5th wave, in C. If this is the case, the internal wave structure of the 4th wave, in C, does not become to take an even more complicated form, thus the currency pair will continue the already noted growth of quotes in the direction of the 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 quotes 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 through the 0.9922 region suggests the completion of wave 4 and the inclination of the trading instrument to build wave 5, in C.
