Analysis of wave counting:
Earlier this week, the pair USD / CHF, however, resumed the development of a downward movement, having updated the reached minimum and stopped at the mark of 0.9250 on Friday. Thus, we can assume that the currency pair remained in the stage of formation of the wave 5, 3, c, 2, A, (B), giving it a more complex, but at the same time, more persuasive look. If this is the case, then before the wave 4, c, 2, A, (B), the currency pair will continue to decline quotations and work out the level of the 92nd figure.
The objectives for working out the variant with an upward wave:
0.9278 - 261.8% of Fibonacci
0.9176 - 300.0% of Fibonacci
The objectives for working off a variant with a downward wave:
0.9700 - 0.9800
General conclusions and trading recommendations:
The wave counting has suffered some clarification. The decline of quotations may continue this week with targets near the estimated levels of 0.9278 and 0.9176, which equates to 261.8% and 300.0% of Fibonacci, within the wave 3, c, 2, A, (B). Within the wave 4, after the completion of the current wave, an increase is expected with the first targets, which are about 97 and 98 figures.
