Analysis of wave counting:
Having failed to execute the reversal, during the trades of the last week, the pair USD / CHF continued the development of the downward movement, having lost about 340 pp in price and broke through the level of the 93rd figure on Thursday. Thus, in connection with the breakdown of the September low of last year (0.9420), we can assume that after November 1, the currency pair is in the stage of formation of the wave c, 2nd, A, (B), the main (more than 40- year) downward trend and at the moment began to make attempts to complete the inner 3rd wave, in this c, 2nd, A, (B). If this is the case, then before the 4th wave, c, 2nd, A, (B), the currency pair can continue to decline quotations and work out the level of 0.9200.
The objectives for working out the variant with an upward wave:
0.9278 - 261.8% of Fibonacci
0.9176 - 300.0% of Fibonacci
Goals for development of the variant with a descending wave:
0.9700 - 0.9800
General conclusions and trading recommendations:
The wave counting suffered some clarification. The decline of quotations may continue this week with targets near the estimated levels of 0.9278 and 0.9176, which equates to 261.8% and 300.0% of Fibonacci, within the wave 3, c, 2, A, (B). Within wave 4, after the current wave is completed, an increase is expected with targets of about 97 and 98 figures.