USD/CHF – Mathematical analysis with Murray lines for August 21, 2013
August 21, 2013 7:45 am
Weekly graphic
In two days of negotiation the USD / CHF has traveled the equivalent of what could be a week of negotiation as it has shifted from the line 4/8 to the base of the range of rates in 0.9155 located approximately 89 gained pips so far.
It is difficult to determine exactly why the Swiss franc gained ground against both the U.S. contrapate since there has been no significant reports to explain these movements.
Some say the improved outlook for Europe is fueling demand for European currencies, once again, while others attribute the shift to lower yields of United States Treasury.
For today, Tuesday August 21, we found no reports of Switzerland, but by U.S. awaiting the release of the minutes of the FOMC meeting. This statement could cause another strong movement we must be vigilant.
Daily graphic
In a day graphics as in weekly charts we can see that the area of 0.9155 resistance becomes important because in the past achievement hardly exceed this level and when he did quickly retreated. On the other hand, we note that the line is 0.9155 3/8 (green line) which becomes the basis of its trading range for this time frame so it is logical to expect a bounce at least until the midline of 4/8 located at 0.9277. on the other hand to close the day below 0.9155 would be possible that the pair go find a new 0.9033 support line where 2/8 which we believe is less likely to occur.
Graphic 4 Hours Watching the USD / CHF in 4 hours charts we can understand why we think it is unlikely that the pair drops below 0.9155. First because the line 6/8 is considered according to the theory of Murrey lines as an important area of reversal. On the other hand, observing both the oscillator and the oscillator strength of trend we noticed that both are in an oversold area, so we can expect a retraction for a possible change in trend to the upside. So our preference is to go shopping today above 0.9155 with a stop loss at 0.9120 and take profit at 0.9277 for a potential profit of about 100 pips.
The material has been provided by InstaForex Company – www.instaforex.com
Weekly graphic
In two days of negotiation the USD / CHF has traveled the equivalent of what could be a week of negotiation as it has shifted from the line 4/8 to the base of the range of rates in 0.9155 located approximately 89 gained pips so far.
It is difficult to determine exactly why the Swiss franc gained ground against both the U.S. contrapate since there has been no significant reports to explain these movements.
Some say the improved outlook for Europe is fueling demand for European currencies, once again, while others attribute the shift to lower yields of United States Treasury.
For today, Tuesday August 21, we found no reports of Switzerland, but by U.S. awaiting the release of the minutes of the FOMC meeting. This statement could cause another strong movement we must be vigilant.
Daily graphic
In a day graphics as in weekly charts we can see that the area of 0.9155 resistance becomes important because in the past achievement hardly exceed this level and when he did quickly retreated. On the other hand, we note that the line is 0.9155 3/8 (green line) which becomes the basis of its trading range for this time frame so it is logical to expect a bounce at least until the midline of 4/8 located at 0.9277. on the other hand to close the day below 0.9155 would be possible that the pair go find a new 0.9033 support line where 2/8 which we believe is less likely to occur.
Graphic 4 Hours
Watching the USD / CHF in 4 hours charts we can understand why we think it is unlikely that the pair drops below 0.9155. First because the line 6/8 is considered according to the theory of Murrey lines as an important area of reversal. On the other hand, observing both the oscillator and the oscillator strength of trend we noticed that both are in an oversold area, so we can expect a retraction for a possible change in trend to the upside. So our preference is to go shopping today above 0.9155 with a stop loss at 0.9120 and take profit at 0.9277 for a potential profit of about 100 pips.
The material has been provided by InstaForex Company – www.instaforex.com
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