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 AUD/CHF for January 06, 2016

After a heavy downtrend, AUD/CHF found the bottom at the 0.7045 level and slowly started to move higher. The first resistance at 23.6% Fibonacci was rejected several times, but eventually the price broke above and found the resistance at 50% Fibs.

The most recent wave down stopped right at the previous level of resistance (S1) where it found a support that has been rejected on January 4. Currently, the price is retesting this level of support and the lower trend line of the ascending channel. If the price holds the current support, it could be the starting point of another wave up to retest R2.

Consider buying AUD/CHF if the daily close is above the ascending channel targeting the R2 (0.73) area. Stop loss could be placed just below the strong psychological support at 0.7000.

Support: 0.7160

Resistance: 0.7240, 0.7300, 0.7350

AUDCHF_insta.png

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