Date: 05.11.2012 Time: 18:17 Rate: 0.9438
4 Hour chart
Last Review
USD/CHF Forecast- It is possible to see that the price has stopped two times on the 0.9300 support while it is close to its breaking. Stoppage of the price on this level and breaching the 0.9368 price level will probably lead the price towards the 0.9513 price level which is a 38.2% Fibonacci correction of the downtrend locked in the shrinking descending which is marked with red broken line. On the other hand, breaking the 0.9300 price level will probably lead the price towards the closest support on the 0.9240 price level.
Current review for today
USD/CHF Forecast- The price did breach the 0.9368 price level as it was mentioned on the last review and reached the closest resistance on the 0.9438 price level while breaching it in a proven way is suppose to lead the price towards the 0.9513 price level, which is a 38.2% Fibonacci correction level of the downtrend locked in a shrinking descending price channel marked with red broken line. At this point, every move downwards is suppose to be only a technical correction to the previous uptrend unless we will see a creation of a descending price structure is built.
You can see the chart below:
