Wave Analysis 10.08.2011 (USD/CHF, EUR/USD)

10.08.2011

Analysis for August 10th, 2011

USD/CHF

The formation of wave [5] of 5 is about to finish. The forecast of the price movement is shown on the chart. Most likely, the price will reach new minimum during the day. In the future we can expect the correction, which may last several days.



More detailed wave markings are shown on the H1 chart. We may assume that the fourth wave inside wave [5] has been completed and the fifth wave may start within the next several hours.


EUR/USD

We may assume that a long wave [3] started with wave (3) being formed inside it. The forecast remains bullish. Most likely, the market will reach new maximum of wave [1].



More detailed wave markings are shown on the H1 chart. Right now we can see an extension forming in wave 3.  The forecast of the price movement is shown on the chart. In the near term, the price may continue growing even higher.


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.

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