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FX.co ★ USD/CHF wave analysis. A weekly review.

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Forex Analysis:::2010-05-24T12:00:00

USD/CHF wave analysis. A weekly review.

USD/CHF wave analysis. A weekly review.

USD_CHF price during the previous week was able to uprise by 2.5 figures finishing the movement approximately at a distance of 100 pips from the second possible expected target. Moreover, a picture allowing the beginning of the market recoil versus the US dollar as well as the continuation of the growth in the limits of the 5th wave in the 5th to the levels located within the boundaries of 1,1690 – 1,1700. Anyway, taking into account the current price consolidation in the area of the 15th figure and the outlined MACD divergence, it is possible to wait for a soon beginning of a prolonged and rather deep correction.

Analyst InstaForex
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