Analysis of wave counting:
Having failed to execute the turn, at the beginning of yesterday's European session, the currency pair USD / CHF continued to develop the upward movement, having added almost 100 percentage points in price and it was fixed above the level of the 95th figure at the end of the day. The current wave situation allows us to consider the minimum (0.9185) reached on February 16 as the completion of the entire wave 3, C, (2), A, (B). If this is so, yesterday's rise in quotations is likely to be a continuation of the process of forming the wave c, 4, C, (2), A, (B), whose calculated targets are located in the range between 0.9515 and the level of 0.9600.
The objectives for the option with an upward wave:
0.9516 - 50.0% of Fibonacci
0.9600
The objectives for the option with a downward wave:
0.9194 - 127.2% of Fibonacci
0.9152 - 161.8% of Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build a downward set of waves. The assumed wave 3, C, (2), A, (B) may have been completed. If this is the case, then the quotes increase will continue within wave 4, C, (2), A, (B) with targets located near the estimated mark of 0.9516, which equates to 50.0% of Fibonacci, and above, about 96 figures.
