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Usd/Chf Reaches A Temporary Top


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Aug 31 2011

Swiss franc is rising this morning, which is quite interesting as the Swiss National Bank tends to announce measures to weaken the franc. Well, it seems that "interventions" were already priced in the market, which caused a reversal.

Anyway, technical side of the pair is the most important to us, which suggests that top has been reached at 0.8238 about we warned  our subscribers several times this week. The reason of course was five sub-waves within a blue wave (v), which was a final leg within a larger impulsive bounce as shown on the 4h chart. We also mentioned in yesterday video (member only), that we expect larger corrective decline, so don't be surprised to see more weakness on this pair while price trades below 0.8230!

1h chart:

4h chart:

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