USD/CHF – Mathematical Analysis with Murray Lines for September 02, 2013
September 2, 2013 8:45 am
Graphic weekly
After a week of sustained bullish USD / CHF we can say that we are in an uptrend in the coming weeks, since according wings Murrey lines the previous week the price found support around 0.9155 where it is located on line 3 / 8 (green line) that is has to be the basis of their range of rates and last Thursday according to the chart of days did cross the center line 4/8 (blue line) the same which is regarded as an important line of support or resistance and in the case of the USD / CHF came acting as a major resistance at 0.9277, so that the price level has been now converted into a support area on which we believe the price will move in this first week of the month, being in our opinio a good area to go shopping extension cord run.
Daily Graphic
On daily chart shows a similar picture where the USD / CHF trades at 0.9324 right now with upward direction, because if we look at the indicator of sales force decreases and trend indicator shows an upward bias. This allows us to provide a probable rise in the first tranche to extend to 0.9399 and then 0.9521. But being that the forex market is not a market that can be predicted with 100% reliability, suggest the place a stop below 0.9277 may well be at 0.9247, as a candle closing below line 4 / 8 one would again prove bearish picture.
Graphic 4 Hours
However, the 4-hour chart shows that before continuing its upward trend, it is likely that the USD / CHF has a setback at least to 0.9277 because at this time the price is in an area bounded by extreme overshoot line +2 / 8 plus the top line of the uptrend channel, therefore we can expect a decline to the area of the center line of the trend channel line and 8/8 Murrey lines.
Therefore, our recommendation for today, based on the three graphs analyzed is:
Ready-to-long term buy position at 0.9277 or as close as possible to minimize the risk with a stop loss at 0.9244 and take profit around 0.9640.
If you have any questions or suggestions, please contact:
Graphic weekly
After a week of sustained bullish USD / CHF we can say that we are in an uptrend in the coming weeks, since according wings Murrey lines the previous week the price found support around 0.9155 where it is located on line 3 / 8 (green line) that is has to be the basis of their range of rates and last Thursday according to the chart of days did cross the center line 4/8 (blue line) the same which is regarded as an important line of support or resistance and in the case of the USD / CHF came acting as a major resistance at 0.9277, so that the price level has been now converted into a support area on which we believe the price will move in this first week of the month, being in our opinio a good area to go shopping extension cord run.
Daily Graphic
On daily chart shows a similar picture where the USD / CHF trades at 0.9324 right now with upward direction, because if we look at the indicator of sales force decreases and trend indicator shows an upward bias. This allows us to provide a probable rise in the first tranche to extend to 0.9399 and then 0.9521. But being that the forex market is not a market that can be predicted with 100% reliability, suggest the place a stop below 0.9277 may well be at 0.9247, as a candle closing below line 4 / 8 one would again prove bearish picture.
Graphic 4 Hours
However, the 4-hour chart shows that before continuing its upward trend, it is likely that the USD / CHF has a setback at least to 0.9277 because at this time the price is in an area bounded by extreme overshoot line +2 / 8 plus the top line of the uptrend channel, therefore we can expect a decline to the area of the center line of the trend channel line and 8/8 Murrey lines.
Therefore, our recommendation for today, based on the three graphs analyzed is:
Ready-to-long term buy position at 0.9277 or as close as possible to minimize the risk with a stop loss at 0.9244 and take profit around 0.9640.
If you have any questions or suggestions, please contact:
Email:[email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: