empty
 
 
04.12.2014 03:11 AM
Technical Analysis of USD/CHF for December 04, 2014

The stronger US data pushed the pair to a 1-year high at 0.9783. Economic activity in the non-manufacturing sector grew in November for the 58th consecutive month, according to the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM report. At yesterday's session, the pair gained 60 pips and closed at the highest level of the day. The pair touches the top end of the channel. In case if the prices are closed above the top end of the channel on a daily basis, it adds more bullish thoughts. We have been recommending buying on every dip at 0.9820, 0.9874, 0.9970, and 1.0270. Bulls must be able to close above 0.9742 on a weekly closing basis. Until the prices close above 0.9650, the pair favors buying on dips. The hourly momentum indicators, are showing an overbought sign. We recommend fresh buying above 0.9785. The pair has resistance at 0.9805. We can expect strong momentum only above 0.9805 towards 0.9850 and 0.9870. The pair has support at 0.9730 and 0.9715, below this 0.9688 and 0.9670 will act as strong support levels. Today, the focus shifts to the US unemployment data.

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback