Wave Analysis 15.09.2011 (USD/CHF, EUR/USD)

15.09.2011

Analysis for September 15th, 2011

USD/CHF

The USD/CHF currency pair keeps consolidating. We may assume that wave 4 is taking the form of zigzag pattern with wave [B] inside it. According to the short-term forecast, we should expect the local correction to continue.



If we take a look at more detailed wave markings, which are shown on the H1 chart, we can see that wedge pattern has been completed in wave [A], and wave [B] is taking the form of flat pattern. The price may continue moving downwards slowly during the next several days.


EUR/USD

The formation of wave (B) continues. It looks like the correction may take place for several more days. The forecast of the price movement is shown on the chart. In future we can expect the start of bearish wave (C) of [Y].



At the H1 chart we can see more detailed wave markings. Wedge pattern has been finished in wave A, which is, in its turn, inside wave (B). Wave B has been completed in the form of horizontal triangle pattern. In the near term, we can expect the price to continue growing inside wave C.


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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