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 04, 2017

USDCHFH1.png

Overview:

  • The USD/CHF pair broke resistance which turned to a strong support at the level of 0.9579 (major support).
  • There are no changes in my technical outlook. The bias remains bullish in nearest term testing 0.9763 or higher. Since the trend is above the 38.2% Fibonacci level (0.9579), the market is still in an uptrend. From this point, the USD/CHF pair is continuing in a bullish trend from the new support of 0.9575.
  • Currently, the price is in a bullish channel. According to the previous events, we expect the USD/CHF pair to move between 0.9579 and 0.9763. In the H4 chart, resistance is seen at the levels of 0.9728 and 0.9763. Also, it should be noticed that the level of 0.9666 represents the daily pivot point.
  • Therefore, a strong support will be formed at the level of 0.9575 providing a clear signal to buy with the targets seen at 0.9728. If the trend breaks the support at 0.9728 (resistance 2), the pair will move upwards continuing the development of the bullish trend to the level 0.9763 in order to test the daily resistance 3.
  • However, the stop loss is to be placed below the level of 0.9623.

Daily key levels:

  • Major resistance: 0.9763
  • Minor resistance: 0.9728
  • Intraday pivot point: 0.9623
  • Minor support: 0.9579
  • Major support: 0.9525
The material has been provided by InstaForex Company - www.instaforex.com