Analysis of wave counting:
At the beginning of Friday's European session, the USD/CHF pair resumed the downward movement and reached the level of 0.9665 as it loses about 100 percentage points at the end of the US session. It can be assumed for the currency pair to remain in the stage of formation of the wave b, in a, and in C, which acquired the signs of a correction triangle approaching its completion as a result of the decline. If this is the case, the correctional level of 61.8% at 0.9655 can be considered as the design target for the wave e, in b, in a, and in C, which was calculated in respect to the entire length of the wave a, in a, and in C.
Goals for the option with an upward wave:
1.0004 - 127.2% Fibonacci retracement
1.0050 - 161.8% by Fibonacci
Targets for a downlink wave option:
0.9656 - 61.8% by Fibonacci
0.9600
General conclusions and trading recommendations:
The currency pair continues to build an upward set of waves. The assumed wave b in a, and in C resumed its construction. If this assumption is correct, the decline in quotations will continue with targets near the estimated mark of 0.9656, which is equivalent to 61.8% of Fibonacci.
