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 October 09, 2014

USDCHFM30.png


Fundamental overview:


USD/CHF is expected to trade in lower range.It is undermined by the negative dollar sentiment (ICE spot dollar index last 85.32 versus 85.66 early Wednesday) on dovish minutes of FOMC Sept. 16-17 meeting which showed the Federal Reserve was in no rush to raise interest rates and was concerned that the recent strength of the dollar could hurt U.S. exports and growth as well as putting downward pressure on already low levels of inflation. USD/CHF is also weighed by the lower U.S. Treasury yields (10-year at 2.318% versus 2.341% late Tuesday) and franc demand on buoyant CHF/JPY cross. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy.


Technical comments:
Daily chart is negative-biased as stochastics is falling from overbought zone, MACD staged bearish crossover against its exponential moving average.


Trading recommendations:


The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.9460. A break of this target will move the pair further downwards to 0.9420. The pivot point stands at 0.9550. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.96 and the second target at 0.9650.


Resistance levels:

0.96

0.9650

0.9685



Support levels:


0.9460

0.9420

0.9380


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