Analysis of wave counting:
Earlier, having tested the level of the 92nd figure triggered a rebound in the price of USD / CHF currency pair to the level of 0.9400 during the last week's trading. The current wave situation allows us to assume that the currency pair remained in the stage of formation, which significantly complicated its wave structure of the wave 4, 3, 3, c, 2, A, (B). If so, the currency pair may resume the decline of quotations to the level of 0.9200 and still complete the wave 3, 3, c, 2, A, (B).
The objectives for working off a variant with a descending wave:
0.9208 - 261.8% of Fibonacci
0.9095 - 300.0% of Fibonacci
The objectives for working out the variant with an upward wave:
0.9700 - 0.9800
General conclusions and trading recommendations:
The wave counting has suffered some clarification. The lowering of quotations may resume this week with targets near the estimated levels of 0.9208 and 0.9095, which equates to 261.8% and 300.0% of Fibonacci, within wave 3, c, 2, A, (B). After the completion of the construction of this wave, a departure from the minimum reached within wave 4, c is possible.
