Mathematical analysis with Murray lines of USD/CHF for January 08, 2014
January 8, 2014 2:45 pm
Daily chart: Today the USD/CHF pair already surpassed the barrier of 0.9094 where there is the line 5/8 (green line). We believed that the same was an important resistance due to the fact that this is the top line of your range of trend and from which the upward trend in the medium and long term will be confirmed. Although at the time of this analysis the price seems to find a resistance at 0.9115, it looks like it will be overcome in the next few hours.
4-hour chart: On 4-hour chart we saw a similar picture with the USD/CHF pair moving above 0.9094 and taking its resistance closest to the 6/8 line (red line) which is an important area of resistance.
If we look at the bottom window of our chart, we notice that both the oscillator strength as well as the oscillator of trend are extreme in their areas and there is a high probability of a setback of at least 50% of all the tour so far since the Monday opening.
1-hour chart: The 1-hour chart already shows us a slight setback from 6/8 line (red line) and also we can see that the price is on the edge of the second bottom line of its trend channel on which it has been moved during the last 72 hours since the opening of this week. As we see the upward movement is becoming less pronounced and there seems to be a remarkable exhaustion on the part of buyers, which would give way to the bears take control at least for a short period.
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: Today the USD/CHF pair already surpassed the barrier
of 0.9094 where there is the line 5/8 (green line). We believed that the same
was an important resistance due to the fact that this is the top line of your
range of trend and from which the upward trend in the medium and long term will
be confirmed. Although at the time of this analysis the price seems to find a
resistance at 0.9115, it looks like it will be overcome in the next few hours.
4-hour chart: On 4-hour chart we saw a similar picture with the
USD/CHF pair moving above 0.9094 and taking its resistance closest to the 6/8
line (red line) which is an important area of resistance.
If we
look at the bottom window of our chart, we notice that both the oscillator
strength as well as the oscillator of trend are extreme in their areas and
there is a high probability of a setback of at least 50% of all the tour so far
since the Monday opening.
1-hour chart: The 1-hour chart already shows us a slight setback
from 6/8 line (red line) and also we can see that the price is on the edge of
the second bottom line of its trend channel on which it has been moved during
the last 72 hours since the opening of this week. As we see the upward movement
is becoming less pronounced and there seems to be a remarkable exhaustion on
the part of buyers, which would give way to the bears take control at least for
a short period.
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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