Analysis of wave counting:
Having bounced off the level of the 97th figure, at the beginning of yesterday's trading, the pair USD / CHF started a rather slow development of the upward movement and reached the level of 0.9760 in the second half of the day. At the same time, despite such a rise in quotations, we can assume that the currency pair was still in the stage of formation of the 4th wave, in the 1st, in C. If this is the case, then before marking the beginning of the 5th wave, 1st, C, the currency pair will resume the price decline to 0.9670 or even 0.9600.
The objectives for the option with an upward wave:
0.9763 - 61.8% of Fibonacci
0.9805 - 76.4% of Fibonacci
0.9872 - 100.0% of Fibonacci
Goals for a downward wave option:
0.9670 - 0.9600
General conclusions and trade recommendations:
Wave counting is not entirely unambiguous. The increase in quotations may continue in the future within the first waves in the future C with the targets being about 0.9763, 0.9805 and 0.9872, which is equivalent to 61.8%, 76.4% and 100.0% of Fibonacci. However, the entire internal wave structure of wave C is very complicated. Within the framework of the correction wave in the composition of 1, C, a decrease from 0.9670 to 0.9600 may be possible.