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USD/CHF Wave Analysis for November 27, 2012

2012-11-27 13:46:33 (читать в оригинале)

Wave Analysis:

During the yesterday’s trading session the USD/CHF pair was in the narrow price range under the level of figure 93. Meanwhile, inner wave structure of wave C (or 3) which does not look completed gives reason to assume that the pair may start downward move towards target placed near the level of 0.9240. At the same time the indicators are still oversold. It indicates that probably in the short term an uptrend correction will start its building.

Targets for Up Wave:

0.9319 – 127.2% of Fibonacci

Targets for Down Wave 3 or C (presumably):

 

0.9281 – 161.8% of Fibonacci
0.9239 – 200.0% of Fibonacci

 

Summary and Trading Recommendations:

Wave 4 of an uptrend looks like a five-wave structure. Thus, it has transformed the whole trend pattern into a separate downtrend. Now wave 3 or C (presumably) is building, in its terms the quotes may drop to the level of 0.9281 and 0.9239 which is corresponding to 161.8% and 200.0% of Fibonacci. After this wave is completed the ascending movement in terms of a correctional wave may start with target 0.9319 and higher which is corresponding to 127.2% of Fibonacci. The pair has left the uptrend channel and went out of the limits of uptrend line. It proves the intention to build a complex downward correctional structure which may transform into a separate pulse long-term trend pattern. Divergence of MACD warns that the pair is ready to start its downward move.

The material has been provided by Instaforex Company - instaforex.com