Analysis of wave counting:
Yesterday's European session, the USD/CHF pair started with the resumption of the upward movement and, having added almost 100 percentage point in the price, reached 0.9680 in the afternoon. At the same time, it can be assumed that as a result of such a significant price increase, the currency pair returned to the process of forming the e wave in the 4th, in C, in (2), in A, in (B) and thereby further complicated its internal wave structure. If this is the case, then in the development of the wave c, in the e, in the 4th, in C, in (2), in A, in (B), the currency pair can continue to increase the quotations up to the mark of 0.9750.
Targets for an upward wave option:
0.9636 - 61.8% by Fibonacci
0.9750
Targets for a downward wave option:
0.9551 - 50.0% by Fibonacci
0.9465 - 38.2% by Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build a downward set of waves. The assumed wave 4, in C, in (2), in A, in (B) can further complicate its structure with targets that are about 97 figures and higher. After the completion of the construction of this wave, the quotations are expected to fall within the limits of wave 1, in 5, in C, in (2), in A, in (B) with targets near the estimated marks of 0.9551 and 0.9465, which corresponds to 50, 0% and 38.2% by Fibonacci.
