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 June 01, 2015

USDCHFM30.png

Fundamental overview: USD/CHF is expected to consolidate with bullish bias after hitting a weekly low of 0.9343 on Friday. It is undermined by softer USD sentiment and franc demand on cross trades versus major currencies. But USD/CHF losses are tempered by negative Swiss interest rates and the threat of the Swiss National Bank CHF-selling intervention. Swiss data were mixed on Friday as bigger-than-expected 0.2% on-quarter contraction of Switzerland Q1 GDP (versus forecast -0.1%) offset by stronger-than-expected Switzerland KOF economic barometer of 93.1 (versus forecast 90.0) in May.

Technical comment: The daily chart is mixed as the MACD is bullish, but stochastics is bearish at overbought levels.

Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.95 and the second target at 0.9550. In the alternative scenario, short positions are recommended with the first target at 0.9335 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9280. The pivot point is at 0.9385.

Resistance levels: 0.9500 0.9550 0.9610

Support levels: 0.9335 0.9280 0.9245

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