Wednesday, August 24, 2011

USD/CHF Wave Technical Analysis - August 24, 2011

For the last 24 hours the wave situation concerning the USD/CHF pair has not changed much and the price has continued the horizontal motion under the level of the 79th pattern. 

Thus, the price is making a complex wave structure of a horizontal correction within the assumed 2dn wave (or b). 

It should be mentioned that despite a slightly extended process of this formation this horizontal correction may get a more complex form. 

At the same time the possibility of a decline renewal still exists.

Performed by Alexander Dneprovskiy, Analytical expert

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