Date: 19.11.2012 Time: 17:24 Rate: 0.9403
4 Hour chart
Last Review
USD/CHF Forecast- The price has reached the 0.9513 price level and immediately backed down while at the moment it is located under the Bollinger’s moving average and under the ascending trend line between the lows. It is possible to assume that closure of the current candle under those two will sign that the price will make its way towards the “Wolfe waves” pattern target, meaning the line connecting between points 1 and 4 and marked with purple broken line. Only proven breaching of the 0.9513 price level will change this assumption.
Current review for today
USD/CHF Forecast- after a short uptrend in which the 0.9513 peak level did not breach, the price has sharply descended and it looks like it is making its way towards the “Wolfe waves” pattern target- the line connecting points 1 and 4. Breaking of the 0.9368 price level will probably lead the price downwards to the 0.9300 price level. On the other hand, stoppage of the price on the 0.9368 price level and creating an ascending price structure will probably lead the price to check the last peak on the 0.9513 price level again.
You can see the chart below:
