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 April 16, 2015

USDCHFM30.png


Fundamental overview:


USD/CHF is expected to trade in a lower range. It is undermined by weaker dollar sentiment (ICE spot dollar index last 98.39 versus 98.78 early Wednesday) after a bigger-than-expected on-month drop of 0.6% in the US March industrial production (versus forecast -0.4%) and a lower-than-expected capacity utilization of 78.4% (versus forecast 78.6%). The pair is also weakened by a surprise drop in the Empire State's business conditions index to -1.19 in April from 6.90 in March (versus forecast for rise to 8.0), franc demand on the soft EUR/CHF cross and on the buoyant CHF/JPY cross. But the USD/CHF losses are tempered by the negative Swiss interest rates and the threat of the Swiss National Bank to carry out CHF-selling intervention.


Technical comment:
The daily chart is negative-biased as stochastics is falling from overbought levels, the MACD histogram bars are turning negative.


Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.9550. A break of that target will move the pair further downwards to 0.9480. The pivot point stands at 0.9720. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.9770 and the second target at 0.9820.


Resistance levels:

0.9770

0.9820

0.9875


Support levels:

0.9550

0.9480

0.9450


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