Analysis of wave counting:
At the beginning of yesterday's trading, the USD/CHF pair still broke through the level of the 99th figure and only then retreated by more than 40 percentage points from the already reached lows in the area of the mark of 0.9890. At the same time, it can be assumed that as a result of this decline, the currency pair marked the internal wave structure of the 4th wave and marked the beginning of the 5th wave, in c, in a, in C. If this is the case, then the currency pair may have good prospects for the resumption of growth of quotes in the direction of settlement targets for the designated 5th wave, in c, in a, in C, located 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).
