Analysis of wave counting:
At the beginning of yesterday's European session, the USD/CHF pair was still able an attempt to resume the growth of quotations and, having updated the highs reached the previous day, at the end of the day, reached the mark of 0.9885. It can be assumed that the currency pair remained in the stage of formation of the first generating waves in the composition of the wave c, in a, in C, probably already indicating the beginning of its future 3rd wave. At the same time, fairly strong overbought indicators and the emerging divergence of MACD_aka indicate the possibility of resuming the downward movement to 0.9655, with the prospect of a significant complication of the internal wave structure of wave b, in a, in C.
Targets for an upward wave option:
1.0080 - 1.0100
Targets for a downward wave option:
0.9728 - 50.0% by Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build an upward set of waves. The assumed wave b, in a, in C has completed its construction near the mark of 0.9728, which corresponds to 50.0% of Fibonacci. If this is the case, an extended increase in quotations is now expected with targets above parity.
