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 January 25, 2017

USDCHFH1.png

Overview:

  • The USD/CHF pair broke support which turned into strong resistance at the level of 1.0026. On the H1 chart, the level of 1.0026 coincides with the ratio of 23.6% Fibonacci, which is expected to act as major resistance today. The Relative Strength Index (RSI) is considered oversold because it is below 70. The RSI is still signaling that the trend is upward as it is still strong below the moving average (100). This suggests that the pair will probably go down in coming hours. Accordingly, the market is likely to show signs of a bearish trend. In other words, buy orders are recommended below 1.0026 with the first target at the level of 0.9958. From this point, the pair is likely to begin a descending movement to the point of 0.9958 and further to the levels of 0.9930 abnd 0.9900. The level of 0.9900 will act as strong support. On the other hand, if a breakout happens at the resistance level of 1.0069, then this scenario may become invalidated. So, stop loss should always be taken into account. Therefore, it will be beneficial to set the stop loss above the last bullish wave at the level of 1.0069.
The material has been provided by InstaForex Company - www.instaforex.com