USD/CHF – Mathematical analysis with Murray Lines for October 23, 2013
October 23, 2013 4:30 pm
Daily chart
The Greenback fell sharply against its counterparts yesterday after a weak NFP report supported the idea of no Fed taper this year. EUR/USD and GBP/USD popped higher, while USD/CHF dropped to a two-year low.
It was not a good day for Uncle Sam yesterday as the delayed September NFP numbers disappointed the market players. Although the unemployment rate dropped from 7.3% to 7.2%, the report also revealed that there were only 148,000 workers who found work in September. That’s a lot less than the expected 182,000 uptick! Not only that, but the average hourly earnings also slipped from 0.4% to a growth of 0.1%.
In the coming days chart finds support in line eighth but this being a weak line; one can expect some falls even more for the next few days.
4-hour chart
In 4-hour charts we can see that the price at this point about the line 0/8 (solid line) whereas the line is considered as a last line of support in this time frame it is logical to expect a bounce from this area, however given the strength to stop selling prevail is possible that the USD/CHF pair finishes breaching these levels also.
The franc pulled a double victory against the dollar and the euro yesterday as a strong Swiss data boosted the low-yielding currency. USD/CHF dropped to a five-month.
It might have helped the franc that Switzerland’s trade balance data showed a 2.49 billion CHF trade surplus, which is higher than the previous month’s 1.86 billion CHF figure and the expected 2.32 billion CHF surplus.
1-hour chart
On 1-hour chart the USD/CHF pair is trading in the line -2/8. Although the indicator shows that there is still force sales force, however the trend indicator is oversold levels, which could be a sign of a possible reversal. For today we have reports from Switzerland and any unexpected strong motion data will be subject to its counterpart. Meanwhile, our recommendation is to position ourselves with purchase orders with stop loss set at least 50 pips.
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
The Greenback fell sharply against its counterparts yesterday after a weak NFP report supported the idea of no Fed taper this year. EUR/USD and GBP/USD popped higher, while USD/CHF dropped to a two-year low.
It was not a good day for Uncle Sam yesterday as the delayed September NFP numbers disappointed the market players. Although the unemployment rate dropped from 7.3% to 7.2%, the report also revealed that there were only 148,000 workers who found work in September. That’s a lot less than the expected 182,000 uptick! Not only that, but the average hourly earnings also slipped from 0.4% to a growth of 0.1%.
In the coming days chart finds support in line eighth but this being a weak line; one can expect some falls even more for the next few days.
4-hour chart
In 4-hour charts we can see that the price at this point about the line 0/8 (solid line) whereas the line is considered as a last line of support in this time frame it is logical to expect a bounce from this area, however given the strength to stop selling prevail is possible that the USD/CHF pair finishes breaching these levels also.
The franc pulled a double victory against the dollar and the euro yesterday as a strong Swiss data boosted the low-yielding currency. USD/CHF dropped to a five-month.
It might have helped the franc that Switzerland’s trade balance data showed a 2.49 billion CHF trade surplus, which is higher than the previous month’s 1.86 billion CHF figure and the expected 2.32 billion CHF surplus.
1-hour chart
On 1-hour chart the USD/CHF pair is trading in the line -2/8. Although the indicator shows that there is still force sales force, however the trend indicator is oversold levels, which could be a sign of a possible reversal.
For today we have reports from Switzerland and any unexpected strong motion data will be subject to its counterpart. Meanwhile, our recommendation is to position ourselves with purchase orders with stop loss set at least 50 pips.
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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