USD/CHF forecast
9 February 2009
H4 graph
The pair is in "E-E+" side trend, upon breaking of which ("E+" trend line), it will move towards "K" trend line, 1.1300 level, and possibly towards 1.1200. Resistance is at 1.1655, but there is a chance that the pair's correction will occur a little higher. The ascending correction was provoked by "R" trend line. I'm expecting "E" trend line's breaking and reaching the target of 1.1300 - 1.1200.
Breaking of "triangle" figure was supposed to go downwards as well as upwards in the previous forecast. Eventually the figure had been broken upwards, but that was a false breaking, due to the fact that it was not supported either by eur/usd, or by gbp/usd - the pairs against which the dollar was dropping, not rising. Besides, franc had broken the figure before all important news was released.
Breaking of "triangle" figure was supposed to go downwards as well as upwards in the previous forecast. Eventually the figure had been broken upwards, but that was a false breaking, due to the fact that it was not supported either by eur/usd, or by gbp/usd - the pairs against which the dollar was dropping, not rising. Besides, franc had broken the figure before all important news was released.
Daily graph
