Analysis of wave counting:
Last week, the pair USD / CHF started with a downward movement, losing about 180 pp and was able to work out the mark of 0.9735 at the end of the Friday session. The current wave situation allows us to assume that as a result of this decrease, the currency pair still complicated the internal wave structure of wave b, a, (C), which, moreover, retained the elements of some incompleteness. If this is the case, then the probability of continuing the decline in quotations to the levels of 0.9655 - 0.9565, has not lost its relevance.
The objectives for working out the option with an upward wave:
1.0022 - 76.4% of Fibonacci
1.0120 - 100.0% of Fibonacci
Goals for working off the variant with a downward wave:
0.9728 - 50.0% of Fibonacci
0.9656 - 61.8% of Fibonacci
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, which equates to 76.4% and 100.0% of Fibonacci, within the limits of wave c, a, (C). The assumed wave b, a, (C) resumed its construction, complicating its internal wave structure.
* The presented market analysis is informative and does not constitute a guide to the transaction.
