Mathematical analysis with Murray lines of USD/CHF for January 13, 2014
January 13, 2014 6:15 am
Daily chart shows the USD/CHF dropped to the low of 0.9004, the lowest point since the January 3, and closed at 0.9024, with a drop of 0.49% during the day.
This reverse was about to touch the level of 50.00 of Fibonacci, the same that is very close to the 3/8 line (green line).
Therefore, today we believe that the pair would continue to fall until you find a consistent support that could well be at 0.8972 because there is the bottom line of its trading range.
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4-hour chartВ
The 4-hour figure shows the possibility that the USD/CHF continues to fall below their current levels to rely on 0.8972.
If you look at the lower windows, we notice the relative strength index of RSI, however we believe that the pair still proves its last minimum from last Friday. Therefore, we may eventually continue selling in the short term below 0.9033.
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1-hour chartВ
Finally В the 1-hour picture is similar. With the US dollar falling below the apex of its two trend lines and taking as resistance more next the neutral line of 4/8 (blue line), we note that its closest target would be at 0.8972.В
When the price reaches these levels, we will be able to see how much force the bears have to continue pushing prices below these levels. In the meantime we could use some 40 to 50 pips with a risk of 2 to 1 selling below 0.9033.
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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.
В
The material has been provided by InstaForex Company – www.instaforex.com
Daily chart shows the USD/CHF dropped to the low of 0.9004, the lowest point since the January 3, and closed at 0.9024, with a drop of 0.49% during the day.
This reverse was about to touch the level of 50.00 of Fibonacci, the same that is very close to the 3/8 line (green line).
Therefore, today we believe that the pair would continue to fall until you find a consistent support that could well be at 0.8972 because there is the bottom line of its trading range.
В
4-hour chartВ
The 4-hour figure shows the possibility that the USD/CHF continues to fall below their current levels to rely on 0.8972.
If you look at the lower windows, we notice the relative strength index of RSI, however we believe that the pair still proves its last minimum from last Friday. Therefore, we may eventually continue selling in the short term below 0.9033.
В
1-hour chartВ
В
If you have any questions or suggestions, please contact:
email:В [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.
В
The material has been provided by InstaForex Company – www.instaforex.com
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