Analysis of wave counting:
After trading most of the time yesterday in the range near the level of the 96th figure, at the beginning of yesterday's US session, the USD/CHF pair continued development of the upward movement and reached the level of 0.9660 at the end of the day. At the same time, due to such a significant price increase from the low of last Friday, the emerging wave condition suggests that the currency pair can progress to the stage of formation of the first generating waves as part of the future wave C. At the same time, the currency pair still retains the potential for renewing the decline in prices to the level of the 94th figure and even more complication of the internal wave structure of the wave c, in c, in c, in E, in B.
Objectives for an upward wave option:
0.9600 - 0.9800
Objectives for a downward wave option:
0.9395 - 76.4% by Fibonacci
0.9315 - 100.0% by Fibonacci
General conclusions and trading recommendations:
Wave counting underwent adjustments. The wave E, in B can take a more complicated form, and the decline of prices may resume with targets located near the estimated marks of 0.9395 and 0.9315, which equates to 76.4% and 100.0% of Fibonacci. If this wave is still complete, now we see the construction of the first waves in the future C with targets between the 96 and 98 figures.