FX.co ★ USD/CHF wave analysis for April 18, 2011

Last day of the week the USD/CHF currency pair was trading in a quite narrow price range near the 0.8920 level. At the same time, the price almost finished to form the estimated 3rd wave (in the 3rd) of the whole downtrend section of the main trend. If so, the currency pair might start moving from the reached lows (in the range of the future 4th wave) in the short term. The formed MACD divergence proves this.