Analysis of wave counting:
During the last day of the past week, the pair USD / CHF began with the rollback of the price from the minimum reached on the eve and was able to work out the level of the 98th figure in the afternoon. Thus, it can be assumed that the currency pair made an attempt to resume the growth of quotations and designate the beginning of the wave 5, 1, a, 4, C, (2), A, (B). If this is true, then the currency pair may have good prospects for the growth of quotations up to the level of 0.9550. At the same time, as noted earlier, the currency pair still retains the potential allowing it to continue to decline to 0.9200 and significantly complicate the internal wave structure of the entire wave 3, C, (2), A, (B).
The objectives for the option with an upward wave:
0.9478 - 38.2% of Fibonacci
0.9548 - 50.0% of Fibonacci
The objectives for the option with a downward wave:
0.9200 - 0.9100
General conclusions and trading recommendations:
The currency pair continues to build a downward set of waves. The assumed wave 3, C, (2), A, (B) once again could complete its construction, however, it may yet again complicate its internal structure and reach the 92nd figure. If the assumption of the beginning of the construction of wave 4, C, (2), A, (B) is true, then the increase in quotations will resume with targets located near the calculated marks of 0.9478 and 0.9548, which corresponds to 38.2% and 50.0% of Fibonacci.
