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Analysis of wave counting:
Testing in the middle of the day the level of the 97th figure led in the second half of yesterday's trading to the rollback of the price of the pair USD / CHF for more than 70 percentage points from the achieved maximum. It can be assumed that the currency pair continued to make attempts to transition to the stage of formation of the first generating waves in the composition of the future wave C. At the same time, a fairly strong divergence of MACD indicates a probability of a renewed decline in quotations, which in turn, may entail significant complication of the internal wave structure of the wave b, c, E, B.
Targets for an upward wave option:
0.9600 - 0.9800
Targets for the a downward wave option:
0.9395 - 76.4% of Fibonacci
0.9315 - 100.0% of Fibonacci
General conclusions and then tractive recommendations:
Wave counting underwent adjustments. The wave E, B can take a more complicated form and the lowering of quotations 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 completed, then now we see the construction of the first waves in the future C with goals between 96 and 98 figures (the goals will be more precise). The MACD divergence warns of a readiness to move away from the highs reached.
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