USD/CHF forecast
27 January 2009
H4 graph
Breaking of "a-a+" trend has cleared the way for dropping to target level of 1.1115. Two levels of resistance have been formed: 1.1410 and 1.1500. In the case of correction's extension I expect a bounce off one of these levels and a continuation of the descending trend with a target of 1.1115.
Daily graph
Like I expected the pair has reached the target level of 1.1720, which is a strong resistance. I consider that the descending movement with the target of 1.0855 has started.
