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 May 04, 2018

analytics5aec2add07ec4.png

Overview:

The USD/CHF pair is still trading between the levels of 0.9927 and 1.0003. The USD/CHF pair will continue to rise from the level of 0.9927. The support is found at the level of 0.9868, which represents the 61.8% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 0.9868, while immediate resistance is seen at 1.0003. Accordingly, the USD/CHF pair is showing signs of strength following a breakout of a high at 0.9961. So, buy above the level of 0.9961 with the first target at 1.0003 in order to test the daily resistance 1 and move further to 1.0048. Also, the level of 1.0048 is a good place to take profit because it will form a new double top. Amid the previous events, the pair is still in an uptrend; for that we expect the USD/CHF pair to climb from 0.9961 to 1.0048 today. At the same time, in case a reversal takes place and the USD/CHF pair breaks through the support level of 0.9868, a further decline to 0.9826/0.9800 can occur, which would indicate a bearish market.

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