Wednesday , 13 November 2019

USDCHF keeps supported by 200-hour SMA

Written by FXTT Monday, 19 September 2011 07:16

USDCHF–Intraday Technical Analysis–Sep 19, 2011-07.00 GMT

TECHNICAL ANALYSIS REVIEW

USDCHF opened with up gap 43 points this morning. This suggests that USDCHF keeping potential upward move.  USDCHF has been trading sideways between 0.8927 and 0.8647 for the last five days. Obviously USDCHF is in a consolidation phase after performing upward move after USDCHF printing the all time low at 0.7067.

 

Previous Week

Open

High

Low

Close

Range

0.8875

0.8927

0.8647

0.8762

280

Previous Day

Open

High

Low

Close

Range

0.8692

0.8776

0.8685

0.8762

91


USDCHF HOURLY CHART

usdchf-keeps-supported-by-200-hour-sma

TECHNICAL ANALYSIS OUTLOOK

On the hourly chart we can see that USDCHF trades above the 200-hour simple moving average which is currently at 0.8745. We can also see how the 200-hour simple moving average acts as a good support for USDCHF since last week.

Therefore, as long as USDCHF maintains trading above the moving average, we view USDCHF will continue trading sideways with upward bias. Only a break below 0.8647 will lead USDCHF to continue going south. Meanwhile, key resistance is at 0.8927 – 0.8946 zone.

 

Intraday Market Condition: Non Trending
Intraday Market Direction : Sideways

 

Support 1: 0.8746 Resistance 1: 0.8880
Support 2: 0.8647 Resistance 2: 0.8946
Support 3: 0.8537 Resistance 3: 0.9000

 

DISCLAIMER: The information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. FXTechnicalTrade.com is merely providing this column for your general information. The views of the authors are not necessarily those of FXTechnicalTrade.com, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. FXTechnicalTrade.com and the market research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. FXTechnicalTrade.com and the market research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

To contact the editor responsible for this story:  Reza  at PT. ABC Future Indonesia and FXTT Analysis Dept.

email: rezafile@ymail.com

About Reza File

To contact the editor responsible for this story : Reza Aswin at PT. ABC Future Indonesia email : rz_aswin@yahoo.com

Check Also

APA YANG HARUS DILAKUKAN TRADER SEBELUM TRADING FOREX

Reza Aswin, 20 April 2017   Apa yang Harus dilakukan TRADER Sebelum TRADING FOREX   …

WhatsApp chat