FX.co ★ USD/CHF - Mathematical analysis with Murray Lines for September 18, 2013

Daily chart

After Tuesday without any signifficant movements, USD/CHF in our view remains bearish. After a slight recovery of just over about 20 pips during the previous session the Swiss franc apparently found support at 0.9247 and the bulls are taking control at least for the moment though to prove its strength it should exceed the level of 4/8 (blue line) located in a key area to mark the trend to continue.

In September 2013, Swiss economic expectations increased significantly by 9.1 points. Consequently, the ZEW-CS-Indicator of economic expectations reached 16.3 points mark, which is the highest reading since April 2013.

H4 chart

On 4-hour chart since opening session this week the USD/CHF pair has been trading in a range between lines 0/8 - 1/8. Considering the economic outlook for Switzerland, eventually it would be in a consolidation area and the Swiss franc could still gain some ground against the dollar, thereby widening its uptrend channel. Since the oscillator strength and oscillator trends show that sales force there.

H1 chart

On 1-hour chart note that USD/CHF is hovering over the green line 3/8 within a longer time frame, which would mean that comes online trading on the basis of its trading range. Line 3/8 observed in green dots in this graph in turn coincides with the center line of the downtrend channel and taking into account this fact, we can say that the breaking of one of the lines of the channel trend either up or down will give us a clearer picture of the expectations for this particular pair. Meanwhile, like yesterday we found a clear signal input at some position through what we dare not give any suggestion to buy or sell.

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Email: antonio.inga@analytics.instaforex.com

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