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 December 22, 2016

USDCHFM30.png

USD/CHF is expected to trade with bearish bias as consolidation is in place. The pair remains under pressure below its key resistance at 1.0280. The 50-period moving average is turning down and calls for a new pullback. Besides, the relative strength index lacks upward momentum.

On the economic data front, MBA mortgage applications rose 2.5% in the week ended December 16th comparing to a decline of 4% in the previous week. In other news, existing home sales increased to 5.61M units in November (estimated 5.50M) from 5.57M in the previous month (revised from 5.60M).

To sum up, as long as 1.0280 is not surpassed, the pair is likely decline to 1.0235 and 1.0210 in extension.

Resistance levels: 1.0300, 1.0320, 1.0345

Support levels: 1.0235, 1.0210, 1.0180

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