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 August 02, 2016

1470127249_USDCHFH4.png

Overview:

  • Yesterday, the USD/CHF pair dropped from the level of 0.9734 (this level of 0.9734 coincides with the ratio of 50% Fibonacci Expansion) to the bottom around 0.9635. Also, it should be noted that the USD/CHF pair continues to move downwards from the level of 0.9734 on the H4 chart. Therefore, the first resistance level is seen at 0.9734 followed by 0.9786, while daily support 1 is seen at 0.9622 today. According to the previous events, the USD/CHF pair is still moving between the levels of 0.9734 and 0.9622. If the USD/CHF pair fails to break through the resistance level of 0.9734, the market will decline further to 0.9622. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.9572 in order to test the daily pivot point. On the other hand, it would also be wise to consider where to place a stop loss; this should be set below the second resistance of 0.9786.
The material has been provided by InstaForex Company - www.instaforex.com