Analysis of wave counting:
Yesterday's strengthening of the dollar allowed the currency pair USD / CHF to resume the downward movement in the middle of the day and to finish the mark of 0.9560 by the end of the American session. It can be assumed that the currency pair continued to form the internal wave structure of the future wave 1, 1, 5, C, (2), A, (B). At the same time, the currency pair retained the potential for further complicating the entire wave 4, C, (2), A, (B), as well as price return to the area of 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:
0.9551 - 50.0% of Fibonacci
0.9465 - 38.2% of Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build a downward set of waves. The assumed wave 4, C, (2), A, (B), may have been completed. If this is the case, then the decline in quotations will continue within the framework of wave 1, 5, C, (2), A, (B) with targets near the calculated marks of 0.9551 and 0.9465, which corresponds to 50.0% and 38.2% of Fibonacci.
