Friday, September 2, 2011

EURCHF - Corrective bounce to come

EURCHF appears to have completed a massive A wave down covering around 900 pips. Current price action at it's lower channel support suggests that the pair is overstretched with a hammer candlestick forming on the current hourly bar. A modest 3 wave pull back in wave B should return prices at least to the 1.1360 region (4th of a lesser degree) but with potential to climb back to the highs around 1.1900.

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