Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair USD / CHF continued the development of the downward movement that began on Friday and reached the level of 0.9635 in the afternoon. Thus, it seems that the currency pair confirmed the transition to the stage of formation of the prospective 2nd wave, as part of the future wave C. If this is so, the currency pair retains the potential to further reduce quotations to the level of the 96th figure, or even to the mark of 0.9550.
Targets for an upward wave option:
0.9687 - 100.0% by Fibonacci
0.9750
Targets for a downward wave option:
0.9616 - 38.2% by Fibonacci
0.9582 - 50.0% by Fibonacci
General conclusions and trading recommendations:
Wave E, B supposedly completed its construction. Now the construction of wave C has supposedly begun, and the construction of its internal wave 1 has been completed. Thus, now the quotations are expected to fall within the framework of wave 2 in C with targets located near the calculated marks of 0.9616 and 0.9582, which corresponds to 38.2% and 50.0% Fibonacci. After the completion of the construction of this wave, it is expected to increase quotations within the wave 3 in C.