Monthly wave analysis for USDCHF (May, 2007)

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Previous month’s wave counting forecast was pretty accurate. Final chart can be seen in the picture below. For more comparison it also shows previous month’s wave counting.



Current wave counting:

USD/CHF wave analysis for 2007

1 wave counting scenario:



Wave (B)? should end very soon. Confirmation level is at the end of wave (b) of [y] of Y. Once wave (B)? is confirmed critical level will be at the end of wave (B)?.

2 wave counting scenario:



Wave (c) of [y] should end around strong resistance level 1.18 (1.15 and 1.13). Critical level is at the end of wave vi of (c).