Mathematical analysis with Murray lines of USD/CHF for December 24, 2013
December 24, 2013 4:15 pm
Daily сhart
The USD/CHF pair probably completed its retracement move, according to Fibonacci levels, or probably moved from 38.2 until 23.6 support paring the losses of the previous day and it is possible that the next target is placed in the area of Fibonacci 50.0 which also coincides with the neutral line 4/8 (blue line) Murrey, however the pair will have to rise above the line 3/8 which is the beginning of its trading range.
4-Hour сhart
In the 4-hour chart USD/CHF is being supported by a rising trend line above the two moving averages of 50 and 15 periods respectively. Having found their support on a weekly pivot at 0.8931 and having broken its uptrend line, the next target would be found around 0.9000 as the first target then climb to 0.9030 where it may find the first weekly resistance along the line 4/8 Murrey being, in our opinion, a key area to determine if the currency continues to rise above these levels.
1-Hour сhart
Finally in the 1-hour chart USD/CHF is breaking the top line of its internal downtrend channel within a larger uptrend channel which center line is also about to be violated. We can also note that the center line of the uptrend channel converges with the line 4/8 Murrey found at 0.8972 and when the couple crosses this area, it would confirm the continuation of the upward trend in the medium term so that we could enter with buy positions above the 200 period moving average found in 0.8949 with a stop loss of 30 pips.
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 сhart
The USD/CHF pair probably completed its retracement move, according to Fibonacci levels, or probably moved from 38.2 until 23.6 support paring the losses of the previous day and it is possible that the next target is placed in the area of Fibonacci 50.0 which also coincides with the neutral line 4/8 (blue line) Murrey, however the pair will have to rise above the line 3/8 which is the beginning of its trading range.
4-Hour сhart
In the 4-hour chart USD/CHF is being supported by a rising trend line above the two moving averages of 50 and 15 periods respectively. Having found their support on a weekly pivot at 0.8931 and having broken its uptrend line, the next target would be found around 0.9000 as the first target then climb to 0.9030 where it may find the first weekly resistance along the line 4/8 Murrey being, in our opinion, a key area to determine if the currency continues to rise above these levels.
1-Hour сhart
Finally in the 1-hour chart USD/CHF is breaking the top line of its internal downtrend channel within a larger uptrend channel which center line is also about to be violated. We can also note that the center line of the uptrend channel converges with the line 4/8 Murrey found at 0.8972 and when the couple crosses this area, it would confirm the continuation of the upward trend in the medium term so that we could enter with buy positions above the 200 period moving average found in 0.8949 with a stop loss of 30 pips.
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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