Analysis of wave counting:

During the course of yesterday's trading, the USD/CHF pair continued the upward movement and completed the day above the level of the 96th figure as it wasn't able to complete the turn. The formed wave in the current situation suggests that this was the result of a significant increase from the minimum level reached on Friday. The currency pair has still completed the formation of a slightly oblong wave b, in c, in c, in c, in E, in B. If this is the case, the currency pair will resume the decline of quotations referring to the high in the previous day. The downtrend of quotations will resume at least to the level of 0.9400 or even to 0.9300.

Target options with an upward wave:

0,9600 - 0,9800

Targets for a downlink wave option:

0.9395 - 76.4% of Fibonacci

0.9315 - 100.0% Fibonacci retracement

General conclusions and trading recommendations:

The wave continues to undergo adjustments. The waves in E and in B takes a more complicated form where the decline of quotations may resume. The target levels are located near the estimated marks of 0.9395 and 0.9315 which are equivalent to 76.4% and 100.0% Fibonacci, respectively. Once the construction of this wave has been completed, there will be a long-term increase in the wave S.