Daily chart
The USD/CHF after it closed with a clear sailing bullish last Friday, it is more likely that this new week it begins with the upward trend.
First, after its final upward momentum, closing above the 5/8 line (green line) which is, as we know the top line of its trading range after having a double support at the lines of 3/8 and 4/8.
However, the price break should clear the area of resistance that is demarcated with the red line, so that we can enter with buying positions above this.
4-hour chart
In the figure of 4 hours we can also observe that at 0.9129 there is the first top line of the band of quotation. In turn, this line is found within the area of the 3/8 line (green line). Therefore, both are converted to a double resistance that the USD/CHF you'll have to break decisively in order to continue moving up in the next few days. However, before doing so, prices probably suffer a reverse in order to have a greater upward momentum.
1-hour chart
In the 1 hour chart of the price of the USD/CHF is in this time by tapping the limit of the line 6/8 (red line) which is a major line of reversion. Therefore, more likely it is to expect a slight setback on the price in order to continue with their upward momentum. In case of close at least a full sailing above 0.9125, we would be faced with a possible extension of the price up to 0.9155 before having a setback.
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For detail explanation and best discovery on market trends you may visit via Mathematical analysis with Murray lines of USD/CHF for January 20, 2014 . Thanks for your support on Mathematical analysis with Murray lines of USD/CHF for January 20, 2014
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