Mathematical analysis with Murray lines of USD/CHF for December 27, 2013
December 27, 2013 2:15 pm
Daily chart. The Centre for Economics and Business Research (CEBR), a London-based economic consultancy, said that China will not overtake the US economy until 2028. According to the CEBR report, China is on its way to become the world’s largest economy in a much slower than previously expected pace. This is due to the relative slowdown in China`s domestic economy and the strengthening recovery in the US economy. “We still expect China to overtake the US as the world`s largest economy in 2028 for the first time since 1890,”the CEBR said. Apparently these positively influenced the strengthening of the American currency against other as their counterparts and the Swiss franc was no exception. So the USD/CHF pair fell well below its previous low creating a new floor very close to the line 0/8 Murrey in this case should be the last stand for the pair.
4-hour chart. On the 4-hour chart we may also note that after hitting the green line 3/8 and having broken its trend line higher on the USD CHF pair easily broke its weekly pivot and ended up falling below its first weekly support then back to the support, that is below the 1/8 (yellow line) Murrey. Since the line eighth is considered a weak support line it is possible that the pair finally look to consolidate in the area of the line 0/8 or around 0.8800 with which we present a new opportunity to take positions with the least possible risk.
1-hour chart. Finally the 1-hour chart shows the unexpected movement of the USD/CHF pair from a technical point of view, because even though the price was above the line 5/8 and the first line of your channel trend and everything seemed to continue the uptrend, the prices fell by creating a new downtrend channel well below its line 3/8 that came to be the basis of its trading range. Now hopefully days of consolidation in this area since the line 2/8 is also important to consider support on which prices may find support before a definite trend.
If you have any questions or suggestions, please contact:
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. The Centre for Economics and Business Research (CEBR), a
London-based economic consultancy, said that China will not overtake the US
economy until 2028. According to the CEBR report, China is on its way to become
the world’s largest economy in a much slower than previously expected pace. This
is due to the relative slowdown in China`s domestic economy and the
strengthening recovery in the US economy. “We still expect China to overtake
the US as the world`s largest economy in 2028 for the first time since 1890,”the CEBR said.
Apparently
these positively influenced the strengthening of the American currency against
other as their counterparts and the Swiss franc was no exception.
So the
USD/CHF pair fell well below its previous low creating a new floor very close
to the line 0/8 Murrey in this case should be the last stand for the pair.
4-hour chart. On the 4-hour chart we may also note that after
hitting the green line 3/8 and having broken its trend line higher on the USD
CHF pair easily broke its weekly pivot and ended up falling below its first
weekly support then back to the support, that is below the 1/8 (yellow line)
Murrey. Since the line eighth is considered a weak support line it is possible
that the pair finally look to consolidate in the area of the line 0/8 or around
0.8800 with which we present a new opportunity to take positions with the least
possible risk.
1-hour chart. Finally the 1-hour chart shows the unexpected movement
of the USD/CHF pair from a technical point of view, because even though the
price was above the line 5/8 and the first line of your channel trend and
everything seemed to continue the uptrend, the prices fell by creating a new
downtrend channel well below its line 3/8 that came to be the basis of its
trading range. Now hopefully days of consolidation in this area since the line
2/8 is also important to consider support on which prices may find support
before a definite trend.
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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