USD/CHF Wave Analysis. Weekly Survey
2012-04-30 11:43:50 (читать в оригинале)
Wave marking analysis:
During the whole last week the USD/CHF pair continued the slow descending movement. On Friday though it has managed to test the point 0.9050. Thus, the pair remains within the horizontal channel with levels of figures 90 and 93 seen as limits. We can assume, that when abc wave structure is completed within the horizontal corrective structure, the price will return to the April’s highs located near 0.9250.
Targets for the option with ascending movement (supposedly within the wave D):
0.9308 – 11.4% of Fibonacci
Targets for the option with descending movement (supposedly within the wave C):
0.9002 – 23.6% of Fibonacci
0.8863 – 261.8% of Fibonacci
General conclusions and trading recommendations:
The current wave picture was reviewed but still remains controversial. The new horizontal part of the trend is likely to be formed. The rate has left the limits of the uprising channel confirming the assumption on the sideways movement. Considering the wave analysis, the C wave is likely to complete its formation enabling to reach the level 0.9002. The USD/CHF pair’s rate has been within the sideways channel between 0.9002 and 0.9308 levels for a long time. In general the current picture is rather controversial than clear. When the level 0.9002 is passed through, the wave D is likely to begin its formation enabling the pair to reach the point 0.9308.
The material has been provided by Instaforex Company - instaforex.com
