USD/CHF – Mathematical Analysis with Murray Lines for September 11, 2013
After its upward momentum Tuesday’s session, USDCHF at this time is set at its daily pivot and the center of the line 4 (blue line) and 5/8 (green line) of lines of Murrey math. Since no data exists in favor of the Swiss franc to the present day and the following days, the pair may move in favor of the American currency, looking to reach a new high, as the first installment to touch the top line of its trend channel located in 0.9399.
In 4-hour chart we trade in USD / CHF at the line eighth (yellow line) and since this line is a weak resistance area and the price is at the baseline of its trend channel. From this area we can expect two possibilities.
The first, to continue its upward trend until new zone line resistance 2/8 located at 0.9399.
On the other hand, to break the basis of its trend channel would expect a drop to 0.9277 as support for a new impetus from that area, but we believe this is unlikely to happen.
In 1-hour charts we can see that the pair is entering an angle formed by the two trendlines and is listed at the line 4/8 for this time frame. Most likely from this area to gain a new momentum to the upside, targeting the last few hours prior peak at 0.9369 and breach the second objective in 0.9399.
So we can get above 0.9338 with a stop loss at 0.9313 with a possible target of 50 pips in the remainder of this day.
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