USD/CHF – Mathematical analysis with Murray Lines for November 15, 2013
November 15, 2013 3:45 pm
Daily chart
It seemed that the USD/CHF pair would continue climbing after closing yesterday’s session above 0.9155. However, during today’s session the opposite situation occurred and the price fell below that level and therefore below the line 3/8 (green line) which comes to the bottom line of its trading range. So the picture becomes bearish again and if it exceeds the minimum reached during yesterday’s session, we would expect the pair will be at 0.9033. Meanwhile, the price of 0.9155 resistance is again that we must consider.
4-hour chart
However, when we look at the 4-hour chart we can see that the line is 0.9125 3/8 (green line) for this time frame and therefore the USD/CHF pair is still in range area and in turn observing prior periods in this area there is agglomeration of buyers and sellers in this area becoming an important support to consider. On the other hand, we also have the bottom line of its trading band which gives us the probability of a rise from this area. So we have to wait until we have a clearer picture.
1-hour chart
Finally the 1-hour chart shows the USD/CHF pair is in a horizontal trend channel in your area uptrend line. But as we mentioned in our review of 4-hour chart, in this area there is a bunch of buyers and sellers. However, due to a pressure correction it would not be unusual to see the USD/CHF pair. The pair broke this uptrend line and fall to find its support 0.9033. However, we believe that today the USD/CHF pair closed below 0.9155 and should expect to have a clearer picture later in the day in order to take new positions.
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
Daily chart
It seemed that the USD/CHF pair would continue climbing after closing yesterday’s session above 0.9155. However, during today’s session the opposite situation occurred and the price fell below that level and therefore below the line 3/8 (green line) which comes to the bottom line of its trading range. So the picture becomes bearish again and if it exceeds the minimum reached during yesterday’s session, we would expect the pair will be at 0.9033. Meanwhile, the price of 0.9155 resistance is again that we must consider.
4-hour chart
However, when we look at the 4-hour chart we can see that the line is 0.9125 3/8 (green line) for this time frame and therefore the USD/CHF pair is still in range area and in turn observing prior periods in this area there is agglomeration of buyers and sellers in this area becoming an important support to consider. On the other hand, we also have the bottom line of its trading band which gives us the probability of a rise from this area. So we have to wait until we have a clearer picture.
1-hour chart
Finally the 1-hour chart shows the USD/CHF pair is in a horizontal trend channel in your area uptrend line. But as we mentioned in our review of 4-hour chart, in this area there is a bunch of buyers and sellers. However, due to a pressure correction it would not be unusual to see the USD/CHF pair. The pair broke this uptrend line and fall to find its support 0.9033. However, we believe that today the USD/CHF pair closed below 0.9155 and should expect to have a clearer picture later in the day in order to take new positions.
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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