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 Sep 12, 2014

USDCHFM30.png


Fundamental Overview:


USD/CHF is expected to trade in a range. It is supported by higher U.S. Treasury yields (10-year at 2.551% versus 2.543% late Wednesday) amid speculation that the Federal Reserve might sound more hawkish in next week's policy statement and might raise interest rates sooner than the middle of next year that markets had been anticipating. But USD sentiment dented by more-than-expected 315,000 U.S. jobless claims in week ended Sept. 6 (versus forecast 300,000 and dovish Swiss National Bank's monetary policy. But USD/CHF upside is limited by the franc demand on buoyant CHF/JPY cross and profit-taking on short-CHF positions as market participants trim risk exposure before the weekend.


Technical Comments:
The daily chart is still positive-biased as MACD is bullish, stochastics stays elevated in the overbought zone, 5 and 15-day moving averages are advancing, although inside-day-range pattern was completed on Thursday.


Trading recommendations:


The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9380 and the second target at 0.9430. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9290. A break of this target would push the pair further downwards and one may expect the second target at 0.9250. The pivot point is at 0.9315.


Resistance levels:

0.9380

0.9430

0.9465



Support levels:


0.9290

0.9250

0.9210


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