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*

Fundamental Analysis of USD/CHF for November 23, 2017

CHF has been quite impulsive with the gains over USD recently which lead the price to reside in the support area between 0.9770 to 0.9860. Due to recent worse economic reports of USD and Dovish FOMC Meeting outcome USD has suffered the weakness against CHF after having a good bullish momentum lately. FED has been quite dovish with the recent FOMC meeting hinting about delays in further Rate Hikes which put the market in an indecisive mode with a confused market sentiment, moreover, the recent USD economic reports were not quite as expected. Today USD is expected to be quite weak in comparison due to the holiday being observed for the Thanksgiving day after the dovish FOMC Meeting recently. On the other hand, on the CHF side today a high impact economic event of SNB Chairman Jordan is going to speak about the short-term Interest Rates and future Monetary Policy which is expected to be quite hawkish in nature which is expected to empower CHF to proceed for more gains over USD in the coming days. Despite having quite confirmed Rate Hike possibility in December, USD is expected to struggle with the gains which might lead to bearish pressure in the pair in the future. To sum up, CHF is expected to have an upper hand over USD for the coming days until any positive economic report from USD side helps the currency to gain momentum.

Now let us look at the technical view, the price is currently residing in the middle of the support area range between 0.9770 to 0.9860 where a break below the 0.9770 level with a daily close will result to impulsive bearish pressure with the target towards 0.9450 support area in the coming days. As of the recent impulsive bearish momentum, the price is more likely to close below the support level and lower highs in the coming days but that would require a strong daily close below the 0.9770 support level. As the price remains below the dynamic level of 20 EMA and 0.9950 resistance area the bearish bias is expected to continue further.

analytics5a165d146338f.jpg

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