Wave Analysis 28.12.2011 (USD/CHF, EUR/USD)
28.12.2011
Analysis for December 28th, 2011
USD/CHF
In case of Franc the situation hasn’t changed much, the local correction continues. It looks like, the price is going to continue consolidating up to the New Year, and start a rising rally inside the third wave only in 2012.
The price structure, which includes wedge pattern, still remains in effect. Most likely, the price will continue moving sideways during the rest of the week, but it will start growing again in the beginning of January.
EUR/USD
The market is moving inside a quite narrow trading range. It looks like the situation on the EUR/USD currency pair isn’t going to change much in 2011. Most likely, the price will start moving inside wave (3) in the beginning of January 2012.
It looks like the price is forming a descending wedge pattern with the fourth wave inside it. There is a possibility that the pair may fall down a bit in wave [5] of 1 during the last days of 2011. However, the movement continues inside the current flat.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.