FX.co ★ USD/CHF wave analysis for May 31, 2011

Yesterday’s move of the USD/CHF from Friday’s lows has probably indicated the end of the 3rd wave in the estimated 3rd of the whole downtrend section developing since May 23 from the 89 figure level. Therefore, we might suppose that after it finishes forming the indicated 4th wave in the 3rd, the price will continue declining in the direction of targets located near the 0.8400 level.