Analysis of wave counting:
After the price fell to the level of 0.9550, at the beginning of yesterday's European session, the currency pair USD / CHF resumed the upward movement, adding about 60 percentage points in price and managed to gain a foothold above the 96th figure at the end of the day. Thus, it can be assumed that the currency pair continued to form an even more complex form of the internal wave structure of the wave e, 4, C, (2), A, (B). If this is so, then before the beginning of the future wave 5, C, (2), A, (B), the currency pair can work out a settlement target located in the area of the mark of 0.9635-0.9650.
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) has complicated its internal structure and can continue the construction with targets located near the calculated 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.
