Analysis of wave counting:
Unable to resume the downward movement, during the yesterday's European session, the pair USD / CHF began with the growth of quotations and rolled back to the level of 0.9525 until the end of the day. It can be assumed that the currency pair made an attempt to complete the formation of the 5th wave, in c, c, c, c, E, B, in a somewhat truncated form. If this is so, then keeping the potential to reduce the price to at least the level of the 94th figure, a currency pair (once again) may have prospects for transition to the stage of forming the first generating waves in the future wave C.
Objectives for an upward wave option:
0.9555 - 127.2% by Fibonacci
0.9687 - 100.0% by Fibonacci
Objectives for a downward wave option:
0.9439 - 261.8% by Fibonacci
0.9388 - 161.8% by Fibonacci
General conclusions and trade recommendations:
The wave c, c, E, B has supposedly completed its construction. However, the lowering of quotations within the framework of this wave can still resume with the targets located near the estimated levels of 0.9439 and 0.9388, which corresponds to 261.8% and 161.8% of Fibonacci. An unsuccessful attempt to break through the mark of 0.9439 led to the withdrawal of quotations from the reached minimum and the possible completion of the construction of wave B.