Analysis of wave counting:
Having started the yesterday's trading with a downward movement, the pair USD / CHF lost more than 160 percentage points and broke through the level of the 93rd figure in the afternoon. Thus, in connection with overcoming the currency pair of the September low of last year (0.9320), there appeared the grounds allowing to consider the entire 13-month price decrease from the maximum of December 15, 2016 as the formation process of wave (2), A, B, in the composition of the ascending section of the main trend, which started back in August 2011. If this is so, yesterday's rise in quotations from the mark of 0.9290, the currency pair made an attempt to complete the 3rd wave, C, (2), A, (B) and designate the beginning of the 4th wave, C, (2), A, (B), the calculated goals of which can extend up to the level of 0.9800.
The objectives for the option with an upward wave:
0.9551 - 38.2% of Fibonacci
0.9632 - 50.0% of Fibonacci
Goals for the variant with a downward wave:
0.9551 - 38.2% of Fibonacci
0.9632 - 50.0% of Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build a bearish set of waves. All wave counting has undergone certain changes. The assumed wave 3, C, (2), A, (B), may have completed its construction. Thus, the increase in quotations may continue from within the corrective wave 4 with targets near the estimated levels of 0.9551 and 0.9632, which corresponds to 38.2% and 50.0% of Fibonacci.
