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 29, 2015

USDCHFM30.png

USD/CHF is expected to trade with a bullish bias. Technically, the pair stands firmly above its key support at 0.9850, which maintains strong buying pressure. The intraday RSI regained its bullish momentum, and also jumped above the neutrality area at 50, calling for further advance. Currently trading at 0.9925, the pair is more likely to challenge the nearest resistance at 1.0000, representing the major psychological level. Only a breakout to the upside of this threshold would open the path towards 1.0200.

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 0.9960 and the second target at 1.000. In the alternative scenario, short positions are recommended with the first target at 0.9815 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 0.9755. The pivot point is at 0.9850.

Resistance levels: 0.9960 1.000 1.0060

Support levels: 0.9515 0.9755 0.9710

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