Analysis of wave counting:
During yesterday's trading, the USD/CHF pair continued to develop the upward movement and, breaking the highs of February 8 (0.9470), reached the level of 0.9490. At the same time, it can be assumed that in connection with the price rebound at the end of the American session by 80 pp, the currency pair made another attempt to complete the formation of the wave c and denote the beginning of the future wave d in the form of a complex horizontal correction of the 4th wave, in the 3rd, in C, in (2), in A, in (B). If this is so, then the currency pair may have prospects for lowering quotations to the level of the 92nd figure, or even to the level of 0.9150.
Targets for an upward wave option:
0.9450
Targets for a downward wave option:
0.9194 - 127.2% by Fibonacci
0.9152 - 161.8% by Fibonacci
General conclusions and trading recommendations:
The currency pair continues to create a downward set of waves. The assumed wave 3, in C, in (2), in A, in (B) continues its construction, within the limits of its internal wave d, at 4, the reduction of quotations may resume with targets located near the estimated marks of 0.9194 and 0.9152 , which corresponds to 127.2% and 161.8% of Fibonacci. The MACD_aka divergence warns about the trading instrument's readiness to decrease.
