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 September 13, 2016

USDCHFM30.png

USD/CHF is under pressure. The pair is bearish below a descending trend line since September 9 and is trading on the downside. The descending 50-period moving average is acting as resistance, which maintains the strong selling pressure. In addition, the relative strength index is below its neutrality area at 50, and lacks upward momentum. Federal Reserve Governor Lael Brainard pointed out that "the case to tighten policy preemptively is less compelling" in view of the current labor market situation. She also said that "today's new normal counsels prudence in the removal of policy accommodation."

Meanwhile, Atlanta Fed Bank President Dennis Lockhart and his Minneapolis counterpart Neel Kashkari also suggested there was no urgency to raise interest rates.

U.S. government bonds showed early weakness with the benchmark 10-year Treasury yield edging down to 1.669% from 1.671% Friday.

To sum up, as long as 0.9760 is not surpassed, look for further downside towards 0.9690 at first; in case of a breakout, look for further decline to 0.9675.

Besides, the relative strength index is still above its neutrality area at 50. Hence, as long as 0.9665 holds on the downside, we are positive and expect a new bounce to 0.9740 and 0.9770 in extension.

Resistance levels: 0.9780, 0.9810, 0.9850

Support levels: 0.9690, 0.9675, 0.9610

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