Analysis of wave counting:
Unable to determine the direction of the movement for the whole pre-holiday week, the USD / CHF pair was traded in the range of 100 pp. It can be assumed that the currency pair is still in the stage of the formation of the wave, c, in a, in, where the internal wave is retained the element of incompleteness. If this is the case, the currency pair will continue to decrease prices and at least the 98th figure before the growth of quotations.
The objectives for working out the variant with an upward wave:
1.0022 - 76.4% by Fibonacci
1.0120 - 100.0% of the Fibonacci
Objectives for working off a variant with a descending wave:
0.9801 - 38.2% Fibonacci retracement
0.9728 - 50.0% Fibonacci retracement
General conclusions and trading recommendations:
The instrument continues to build the upward wave (C). The increase in quotes may resume this week, with targets near the calculated levels of 1.0022 and 1.0120, equating to 76.4% and 100.0% of Fibonacci within the limits of wave c, in a, in (C).
