MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of USD/CHF for Sep 02, 2014

USDCHFM30.png


Overview:


USD/CHF is expected to consolidate with a bullish bias after hitting a nine-and-a-half month high of 0.9197 on Monday. It is supported by the positive dollar sentiment, contagion from weak EUR on CHF and dovish Swiss National Bank's monetary policy as well as franc sales on rebounding EUR/CHF cross. But the CHF sentiment soothed by higher Switzerland August PMI of 52.9 versus forecast of 52.7. The daily chart is positive-biased as MACD is bullish, stochastics stays elevated in the overbought zone, 5 and 15-day moving averages are advancing.


Trading recommendations:


The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9230 and the second target at 0.9255. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9160. A break of this target would push the pair further downwards and one may expect the second target at 0.9135. The pivot point is at 0.9175.


Resistance levels:

0.9230

0.9255

0.9280



Support levels:


0.9160

0.9135

0.91


The material has been provided by InstaForex Company - www.instaforex.com