Analysis of wave counting:
Yesterday's USD/CHF trades began with a downward movement and after testing the level of the 99th figure until the end of the day remained near the already reached lows. It can be assumed that the currency pair made an attempt to complete the 4th wave and marked the beginning of the 5th wave, in c, in a, in C. If this is the case, then practically from the lows of the past day, or after a repeated breakdown of level of 0.9900, the currency pair can resume the growth of quotations in the direction of the targets for this 5th wave, in c, in a, in C, located far above the level of price parity.
Targets for an upward wave option:
1.0004 - 127.2% by Fibonacci
1.0050 - 161.8% by Fibonacci
Targets for a downward wave option:
0.9891 - 23.6% 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 quotes is now expected with targets near the estimated levels of 1.0004 and 1.0050, which corresponds to 127.2% and 161.8% of Fibonacci (these targets will be further reviewed).
