Wave Analysis 30.12.2011 (USD/CHF, EUR/USD)
30.12.2011
Analysis for December 30th, 2011
USD/CHF
It looks like the price is forming initial rising impulses in wave [3], and we may assume that the rising movement is going to continue in the beginning of the next year. The target for the bulls is the level of 0.9600.
At the H1 chart the price completed two initial rising impulses. On the minor wave level we can see that wave 2 is taking the form of flat pattern. We can expect the price to start moving upwards while forming the third wave next week.
EUR/USD
The market is inside wave (3) now. The price reached a new local minimum a couple of days ago. Most likely, the price will continue moving downwards in January. The target for the bears is the level of 1.2500.
At the H1 chart the price is forming the descending impulse in wave 1. On the minor wave level we can see the formation of the fourth wave. The price may continue falling down next week.
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.