USD / CHF – Mathematical Analysis with Murray Lines for December 13, 2013
December 13, 2013 3:15 pm
Daily chart
The USD/CHF pair showed a clear U-turn today from the line eighth (yellow line) at 0.8850 which we mentioned in our review of earlier days as an important support. Although the interest rates for the Swiss franc were unchanged, the comments during the SNB’s conference were positive on the overall and ended up supporting the Swiss franc which has been losing positions for more than 7 consecutive days. Therefore, although it could step back today a bit below the daily pivot of the general trend, we expect the pair to continue its upward trend, so if you still keep our positions open that wre executed yesterday, we could raise our stop loss to 0.8830, minimizing our exposure to any unexpected fall that might occur.
4-Hour chart
The 4-hour chart presents a similar picture. With the USD/CHF pair finding resistance at the line 2/8 (red line), it is trading above its centerline channel trend and with an accumulation of several candles below its moving average of 15 periods.Moreover, there wer no significant changes on Friday, however we can expect that the level of 0.8911 will become your support once breached and we can place new long positions at this level.
1-Hour chart
Finally, 1-hour chart shows a clear bullish channel with USD/CHF bottoming out after being supported at line 0/8 as its last stand area. The pair exceeded the line 8/8 which is also considered as the last resistance area. After trying to surpass the line + 1/8 this morning, it tool a modes nose dive that could last even up to 0.8896 and then continue ascending.
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 chart
The USD/CHF pair showed a clear U-turn today from the line eighth (yellow line) at 0.8850 which we mentioned in our review of earlier days as an important support. Although the interest rates for the Swiss franc were unchanged, the comments during the SNB’s conference were positive on the overall and ended up supporting the Swiss franc which has been losing positions for more than 7 consecutive days.
Therefore, although it could step back today a bit below the daily pivot of the general trend, we expect the pair to continue its upward trend, so if you still keep our positions open that wre executed yesterday, we could raise our stop loss to 0.8830, minimizing our exposure to any unexpected fall that might occur.
4-Hour chart
The 4-hour chart presents a similar picture. With the USD/CHF pair finding resistance at the line 2/8 (red line), it is trading above its centerline channel trend and with an accumulation of several candles below its moving average of 15 periods.Moreover, there wer no significant changes on Friday, however we can expect that the level of 0.8911 will become your support once breached and we can place new long positions at this level.
1-Hour chart
Finally, 1-hour chart shows a clear bullish channel with USD/CHF bottoming out after being supported at line 0/8 as its last stand area. The pair exceeded the line 8/8 which is also considered as the last resistance area. After trying to surpass the line + 1/8 this morning, it tool a modes nose dive that could last even up to 0.8896 and then continue ascending.
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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