USD/CHF – Mathematical analysis with Murray lines for August 19, 2013
August 19, 2013 10:15 am
Daily graphic
The USD/CHF after experiencing a fall on Thursday, Friday was not a good day for the pair as it was a quite volatile day. After climbing up to a maximum of 0.9287, it fell to a low of 0.9217 to close at 0.9264 eventually just 4 pips off the opening price thus forming indecision candle called doji in daily charts. What influenced this volatility was mainly due to the behavior of the dollar.
Graphic 1 Hour
Finally, at 1 hour charts note that the USD/CHF currently trades at 0.9268 and it is in between the lines 0/8 and -1 / 8 considered this area as an area of extreme overshoot according to the theory of Murrey and high probability of a reversal in this case would be to the upside that could extend to 0.9338 in the first leg, and then extend to 0.9369 in a second pulse. This is because the yellow line eighth level is easy to beat and only 2/8 would be an important resistance.
Therefore, our preference for Monday August 19 would get sold with safety, above 0.9277 and with a fairly tight stop loss at 0.9240 below the -1 / 8 for possible risk management Minimum 3-1 0.9338
The material has been provided by InstaForex Company – www.instaforex.com
Daily graphic
The USD/CHF after experiencing a fall on Thursday, Friday was not a good day for the pair as it was a quite volatile day. After climbing up to a maximum of 0.9287, it fell to a low of 0.9217 to close at 0.9264 eventually just 4 pips off the opening price thus forming indecision candle called doji in daily charts. What influenced this volatility was mainly due to the behavior of the dollar.
Graphic 1 Hour
Finally, at 1 hour charts note that the USD/CHF currently trades at 0.9268 and it is in between the lines 0/8 and -1 / 8 considered this area as an area of extreme overshoot according to the theory of Murrey and high probability of a reversal in this case would be to the upside that could extend to 0.9338 in the first leg, and then extend to 0.9369 in a second pulse. This is because the yellow line eighth level is easy to beat and only 2/8 would be an important resistance.
Therefore, our preference for Monday August 19 would get sold with safety, above 0.9277 and with a fairly tight stop loss at 0.9240 below the -1 / 8 for possible risk management Minimum 3-1 0.9338
The material has been provided by InstaForex Company – www.instaforex.com
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