Analysis of wave counting:
Having failed to make a turn from the mark of 0.9760, during the trades of the last week, the pair USD / CHF continued development of the upward movement, having added about 180 percentage points in price and tested the level of the 99th figure on Friday. The current wave situation allows us to consider the minimum reached on February 16, as the completion of wave a, 2, A, (B), and the subsequent growth of quotations, as the process of formation of wave b, 2, A, (B). If this is so, the internal wave structure of wave b, 2, A, (B) will not take an even more complex and extended form. Then from the peak already reached on Friday, the currency pair will still begin the long overdue decline of quotations denoting thus the beginning of the future wave c, 2, A, (B).
The objectives for working off a variant with a downward wave:
0.9071 - 261.8% of Fibonacci
The objectives for working out the variant with an upward wave:
0.9896 - 61.8% of Fibonacci
1.0064 - 76.4% of Fibonacci
General conclusions and trading recommendations:
The wave counting assumes the construction of a downward trend section. The decline in quotations may resume this week with targets near the 0.9071 target mark, which equates to 261.8% of Fibonacci, within the wave c, 2, A, (B). An unsuccessful attempt to break through the 0.9896 mark may lead to the completion of the construction of wave b, which continues its construction and is greatly complicated.
