EUR/CHF - Technical Forecast - UPDATE: 5th July 2010 - 15.00hrs GMT
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Is it so easy? Some times, looking back at a chart, I wonder. How much difficult was to forecast the
evolution of the parity. For eample, observe the two above charts. How much difficult was to open
a short position on Sept 2007, keep it open until today? Of course, I know your answers. Anyway!!
So, the two charts here above are monthly charts. In case the drop from 1,6855CHF to 1,2861CHF
completed 5 Waves sequence, we may see EUR going up for long time. Exhaustions at the 2,618 Fib
level rebound upto 0,38 Fib level. Anyway, the 2,618 Fib level is always a respectable level, usually
rebounding strongly. On the other hand, the 1,2886 level completes two descending red channels.
The 60min chart, above the monthly charts, expresses the rebound as it developed until now.
Please note the position of the 50 and 200 SMAs. It is so early to forecast a trend reversal, nevertheless
the temptation is strong.
FORECAST CHART: 28/6/10 16.00hrs GMT UPDATE CHART: 28/6/10 16.00hrs GMT
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EUR/CHF - Technical Forecast - 60min Chart - 28th June 2010 - 16.00hrs GMT
The price broke the lower red line of the descending red channel of a very long period. It started back
in 1989. The Fib scale applied in the above monthly chart covers only the recent period from 2007 until today. If the levl 0,00 and 1,00 as selected by are correct and constitute the minimum (initial) movement
of this Wave, we expect to see parity around 1,28CHF
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