Mathematical analysis with Murray lines of USD/CHF for January 06, 2014
January 6, 2014 3:30 pm
Weekly Chart
The USD/CHF closed the previous week with a bullish candle for more than 150 pips, from 0.8908 up to 0.8950, scrolling even above the center line of the trend channel. Today its line of the nearest support is located at 0.9033, from which this week could continue its upward trend until you find a new mounting bracket, which could well be the area where is located the 3/8 line (green line) of Murrey, since the line is to be the basis of its trading range. However, due to the fact that there is strong resistance in this area, due to the accumulation of buyers and sellers in earlier periods, it is likely that before proceeding with the upward trend, prices fall slightly below 0.9033.
Daily Chart
In the daily chart, we also note that USD/CHF is facing an upward trend. After the meeting of last Friday, it closed above the line 4/8 (blue line) that is considered as a neutral zone, above which the prevailing trend is still bullish and the same will be reinforced when prices exceed 0.9094, where is located the top line of your range of trend. However, it is possible to expect a reverse in view of the strong resistance in this area, the same that we can use to buy around 0.9000 and reduce irrigation.
4-Hour Chart
4-hour chart seems to support our previous theory, since according to the lines of Mathematics g, Murrey J, at this time USD/CHF is found in the areas of extreme resistance to this time frame and is retreating after having touched the line +2/8. Although the price is on its mobile average of 200 sessions, however, there are MACD lines and momentum, so, we are giving bearish signals. Therefore, as we mentioned above, it is possible to expect a slight retract that could be extended even to the line 4/8, but we do not recommend selling at this point, we expect these setbacks in order to enter into positions of purchase.
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
Weekly Chart
The USD/CHF closed the previous week with a bullish candle for more than 150 pips, from 0.8908 up to 0.8950, scrolling even above the center line of the trend channel. Today its line of the nearest support is located at 0.9033, from which this week could continue its upward trend until you find a new mounting bracket, which could well be the area where is located the 3/8 line (green line) of Murrey, since the line is to be the basis of its trading range. However, due to the fact that there is strong resistance in this area, due to the accumulation of buyers and sellers in earlier periods, it is likely that before proceeding with the upward trend, prices fall slightly below 0.9033.
Daily Chart
In the daily chart, we also note that USD/CHF is facing an upward trend. After the meeting of last Friday, it closed above the line 4/8 (blue line) that is considered as a neutral zone, above which the prevailing trend is still bullish and the same will be reinforced when prices exceed 0.9094, where is located the top line of your range of trend. However, it is possible to expect a reverse in view of the strong resistance in this area, the same that we can use to buy around 0.9000 and reduce irrigation.
4-Hour Chart
4-hour chart seems to support our previous theory, since according to the lines of Mathematics g, Murrey J, at this time USD/CHF is found in the areas of extreme resistance to this time frame and is retreating after having touched the line +2/8. Although the price is on its mobile average of 200 sessions, however, there are MACD lines and momentum, so, we are giving bearish signals. Therefore, as we mentioned above, it is possible to expect a slight retract that could be extended even to the line 4/8, but we do not recommend selling at this point, we expect these setbacks in order to enter into positions of purchase.
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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