USD/CHF – Mathematical analysis with Murray lines for December 09, 2013
December 9, 2013 6:15 am
Weekly chart
USD/CHF closed its fourth week on Friday falling far below an important support at 0.9033, to find your support at the eighth line of Murrey lines again.
Although it is considered a weak support line and also taking into account that this line converges with its uptrend line can expect two possibilities. Most likely, this is the consolidation zone then change direction to the upside.
But also depending on the associated data from Switzerland this week starting with the unemployment rate and retail sales in the coming hours could also occur the possibility that prices break this falling trend line to the next 0/8 considered that the last area of support.
Daily chart
However, in the daily chart we see that USD/CHF seems to come finding a support area at the line of 2/8 (red line) the same as it is very close to the current price and in turn that line is regarded as an important support; therefore, with a high probability of reversal.
Moreover, also the oscillator strength seems to have reached its oversold zone with a likely decline in the same, and tendency oscillator is below 10 and with a high probability of a change of direction.
H4 chart
Finally in the 1-hour chart the price of USD/CHF is at the bottom line of its trend channel and at line 0/8 (blue line) the same as considered as a last line of support; after opening this day, the price came to falling below it and then retracted above it, which could be an indication of a time of consolidation above these levels then begin an upward path and consequently a reversal of its downtrend until now.
Moreover, the momentum indicator is the MACD line crossing which could also be an indication of a change of position.
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
Weekly chart
USD/CHF closed its fourth week on Friday falling far below an important support at 0.9033, to find your support at the eighth line of Murrey lines again.
Although it is considered a weak support line and also taking into account that this line converges with its uptrend line can expect two possibilities. Most likely, this is the consolidation zone then change direction to the upside.
But also depending on the associated data from Switzerland this week starting with the unemployment rate and retail sales in the coming hours could also occur the possibility that prices break this falling trend line to the next 0/8 considered that the last area of support.
Daily chart
However, in the daily chart we see that USD/CHF seems to come finding a support area at the line of 2/8 (red line) the same as it is very close to the current price and in turn that line is regarded as an important support; therefore, with a high probability of reversal.
Moreover, also the oscillator strength seems to have reached its oversold zone with a likely decline in the same, and tendency oscillator is below 10 and with a high probability of a change of direction.
H4 chart
Finally in the 1-hour chart the price of USD/CHF is at the bottom line of its trend channel and at line 0/8 (blue line) the same as considered as a last line of support; after opening this day, the price came to falling below it and then retracted above it, which could be an indication of a time of consolidation above these levels then begin an upward path and consequently a reversal of its downtrend until now.
Moreover, the momentum indicator is the MACD line crossing which could also be an indication of a change of position.
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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