Analysis of wave counting:
The earlier strong overbought indicators allowed the currency pair USD / CHF to start Friday's trading with the price pullback from the previously reached maximum and stopped before the mark of 0.9520 at the end of the US session. The resulting wave situation suggests that the currency pair has attempted to complete the formation of the wave 4, C, (2), A, (B) and, nevertheless, designate the beginning of the future wave 5, C, (2), A, (B). At the same time, the currency pair keeps the potential for the resumption of growth of quotations and working out of the settlement target in the area of the mark of 0.9635.
The objectives for the option with an upward wave:
0.9635 - 61.8% of Fibonacci
The objectives for the option with a downward wave:
0.9358 - 23.6% of Fibonacci
0.9400 - 0.9300
General conclusions and trading recommendations:
The currency pair continues to build a downward set of waves. The assumed wave 4, C, (2), A, (B) complicated its internal structure and resumed the construction with targets located near the estimated mark of 0.9635, which corresponds to 61.8% of Fibonacci. After its completion, the quotations are expected to fall in the region of about 94 and 93 figures.
