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FX.co ★ USD/CHF wave analysis for April 7, 2011

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Forex Analysis:::2011-04-07T09:07:05

USD/CHF wave analysis for April 7, 2011

USD/CHF wave analysis for April 7, 2011

During yesterday’s trading the USD/CHF currency pair declined by 150 pips from the daily highs. As a result of such decline inner wave structure of the estimated 2nd wave (or b) has become quite complex and prolonged. At the same time, all this correction decline is developing in relation to the upside section formed between March 23 and April 1, which in its turn is probably the 1st wave (or a). If so, the currency pair might resume growth from the correction level 61.8% or even from yesterday’s low.

Analyst InstaForex
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