USD/CHF mathematical analysis with Murray Lines for December 11, 2013
December 11, 2013 3:45 pm
Daily chart
The USD/CHF yesterday continued making new lows trading below its bottom line of the trend channel; however, it is to find support on the line eighth (yellow line) the same as though it is considered a weak line support but since prices have been falling for more than 6 consecutive days, there is certainly some depletion of this trend where correction is expected in the short term. Oscillators and trend strength are at extreme levels of sales and we believe that above 0.8850 is a good time to enter with buy positions.
4 hour chart
The 4 hour chart shows a similar picture trading right now above 0.8850 that although is considered a weak support line; however, it should be noted that when the price stops around these levels, there is a high probability of a rebound in the opposite direction. A second less likely scenario in our view is that the price might fall below these levels in the short term and look supported on line 0/8 (blue line), however this type of movement is subject to what happens to the U.S. dollar today as there are no economic data from Switzerland.
1 hour chart
Finally, at 1 hour chart USD/CHF trading in a sideways range during the past 48 hours taking as 0.8850 support area which also found its S-1 and weekly within a channel trend increasingly closed. This time frame should continue to drop its next support would be at 0.8782 over 100 pips from the current price, which would have to be some fundamental fact with the dollar to these levels yet found none. Conversely, if we enter above 0.8850 with a maximum risk of 30 pips would have a high probability of leaving a profit for us.
If you have any questions or suggestions, please contac me att:
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 yesterday continued making new lows trading below its bottom line of the trend channel; however, it is to find support on the line eighth (yellow line) the same as though it is considered a weak line support but since prices have been falling for more than 6 consecutive days, there is certainly some depletion of this trend where correction is expected in the short term. Oscillators and trend strength are at extreme levels of sales and we believe that above 0.8850 is a good time to enter with buy positions.
4 hour chart
The 4 hour chart shows a similar picture trading right now above 0.8850 that although is considered a weak support line; however, it should be noted that when the price stops around these levels, there is a high probability of a rebound in the opposite direction. A second less likely scenario in our view is that the price might fall below these levels in the short term and look supported on line 0/8 (blue line), however this type of movement is subject to what happens to the U.S. dollar today as there are no economic data from Switzerland.
1 hour chart
Finally, at 1 hour chart USD/CHF trading in a sideways range during the past 48 hours taking as 0.8850 support area which also found its S-1 and weekly within a channel trend increasingly closed. This time frame should continue to drop its next support would be at 0.8782 over 100 pips from the current price, which would have to be some fundamental fact with the dollar to these levels yet found none. Conversely, if we enter above 0.8850 with a maximum risk of 30 pips would have a high probability of leaving a profit for us.
If you have any questions or suggestions, please contac me att:
[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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