Analysis of wave counting:
The attempt to continue the development of the previously defined upward movement failed and, having renewed the decline last Wednesday, the USD/CHF pair lost about 180 percentage points, reaching the level of 0.9665. Thus, in connection with the breakdown of the currency pair of the level of the 97th figure (at least on January 2), the currency pair remained in the stage of formation having acquired the signs of the oblique triangle of wave b, in a, in (C). If this is the case, then a fairly strong divergence of the MACD_aka indicates that a correction level of 61.8% will lead to the formation of the first generating waves in the future wave c, in a, in (C).
Targets for an upward wave option:
1.0022 - 76.4% by Fibonacci
1.0120 - 100.0% by Fibonacci
Targets for a downward wave option:
0.9656 - 61.8% by Fibonacci
0.9565 - 76.4% by Fibonacci
General conclusions and trading recommendations:
The trading instrument continues to build the upward wave (C). The increase in quotes may resume this week with targets near the estimated levels of 1.0022 and 1.0120, which equates to 76.4% and 100.0% of Fibonacci, within the limits of wave c, in a, in (C). The assumed wave b, in a, in (C) continues its construction, complicating its internal wave structure, with targets near the mark of 0.9656, which corresponds to 61.8% Fibonacci. Convergence MACD_aka warns of the willingness of the trading instrument to build an upward wave.