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23.05.2011 01:02 PM
USD/CHF wave analysis for May 23, 2011

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Despite differently directed Friday’s trading, the USD/CHF currency pair managed to end forming the estimated b wave of the current correction structure and observe the 50,0% correction target level after a reverse. At the same time, the decline to 0.8750 at the moment looks like the beginning of the с wave of this correction. If so, the indicated downside movement can develop in the direction of the next possible target located near the 87 figure level. 

Chin Zhao,
Analytical expert of InstaForex
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