Analysis of wave counting:
At the beginning of last week's trading, the testing the level of the 97th figure led to a price rebound of the pair USD / CHF by almost 100 pp from the minimum reached on the first working day of the new year. It can be assumed that the currency pair has attempted to complete the process of forming the wave b, a, (C) and designate the beginning of the future wave c, a, (C). At the same time, the likelihood of a resumption of a decline in quotations to the 0.9655 mark, or even 0.9565, is still possible, as well as an even more complicated internal wave structure of wave b, a, (C).
The objectives for working out the option with an upward wave:
1.0022 - 76.4% by Fibonacci
1.0120 - 100.0% by Fibonacci
Goals for working off the variant with a downward wave:
0.9728 - 50.0% by Fibonacci
0.9656 - 61.8% by Fibonacci
General conclusions and trading recommendations:
The instrument continues to build the upward wave (C). The increase in quotes may resume this week with targets near the calculated levels of 1.0022 and 1.0120, which equates to 76.4% and 100.0% of Fibonacci, within the limits of wave c, a, (C). The assumed wave b, a, (C) continues its construction, complicating its internal wave structure, with targets near the mark of 0.9656, which corresponds to 61.8% by Fibonacci. The MACD convergence warns of the willingness of the instrument to build an upward wave.