Mathematical analysis with Murray lines of USD/CHF for December 20, 2013
December 20, 2013 2:15 pm
Daily chart
USD/CHF is currently at its bottom line as the range trend line is 3/8 (green Murrey line). However there seems to be some depletion and a correction can be expected below this line at least to return profits earned during the session on Thursday. We can also see that at these levels USD/CHF is testing the 38.20 level Fibonacci retracement yet to beat this level is at 0.8990 during the next few hours, we would give a new buy signal. Meanwhile suggest waiting a throwback to minimize the risk or otherwise entering buying at these levels to place our stop loss just a few pips below the 15 line 3/8.
4-hour chart
Elsewhere, in the 4 hour chart we note that USD/CHF is retreating from the end line +2 / 8 (white line) and the upper line of the trend channel in this case is still lateral and well below its 200-day moving average, all of this leads us to believe that the probability of a reversal to the downside is much stronger than a bullish continuation, specifically for today. Be seen at the end of the day awaits us for the next week.
1-hour chart
In 1-hour chart USD/CHF at its line 3/8 Murrey within a fairly upright and backing a resistance located at 0.9000 bullish channel. While his next target would find this trend around 0.9033; however, there is an accumulation of candles in this area and getting smaller, we would indicate a slowdown in the path of the currency and therefore a possible correction at least to the bottom line of its trend channel which could be at 0.8950, therefore it would be very risky to go buy at this point and on the contrary it would be wiser to wait for some correction.
If you have any questions or suggestions, please contact: Email: [email protected]
DISCLAIMER No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature. The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
The material has been provided by InstaForex Company – www.instaforex.com
Daily chart
USD/CHF is currently at its bottom line as the range trend line is 3/8 (green Murrey line). However there seems to be some depletion and a correction can be expected below this line at least to return profits earned during the session on Thursday. We can also see that at these levels USD/CHF is testing the 38.20 level Fibonacci retracement yet to beat this level is at 0.8990 during the next few hours, we would give a new buy signal. Meanwhile suggest waiting a throwback to minimize the risk or otherwise entering buying at these levels to place our stop loss just a few pips below the 15 line 3/8.
4-hour chart
Elsewhere, in the 4 hour chart we note that USD/CHF is retreating from the end line +2 / 8 (white line) and the upper line of the trend channel in this case is still lateral and well below its 200-day moving average, all of this leads us to believe that the probability of a reversal to the downside is much stronger than a bullish continuation, specifically for today. Be seen at the end of the day awaits us for the next week.
1-hour chart
In 1-hour chart USD/CHF at its line 3/8 Murrey within a fairly upright and backing a resistance located at 0.9000 bullish channel. While his next target would find this trend around 0.9033; however, there is an accumulation of candles in this area and getting smaller, we would indicate a slowdown in the path of the currency and therefore a possible correction at least to the bottom line of its trend channel which could be at 0.8950, therefore it would be very risky to go buy at this point and on the contrary it would be wiser to wait for some correction.
If you have any questions or suggestions, please contact:
Email: [email protected]
DISCLAIMER
No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.
The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
The material has been provided by InstaForex Company – www.instaforex.com
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