Daily chart
After a climb of nearly 100 pips during Thursday's session, the Swiss franc is recovering so far this day and apparently is finding a daily pivot located around 0.9380 again entering the range area. If it closes below 0.9400 we may assume possibly of the bearish trend to 0.9277 in the short term.
4-Hour chart
The 4-hour chart shows what happened during the last 8 hours in which there was a significant recovery of the Swiss franc as reports were better than expected, both U.S. and the euro zone inspired risk-taking investors, prompting a selloff low-yielding currencies like the Swiss franc.
By few hours of trading are left for today, it is possible that the price of 0.9340 remains oscillating long around doing a range between the line eighth Murrey lines; the S-2 daily is at 0.9315, so that for this day we do not find a good entry opportunity.
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Email:antonio.inga@analytics.instaforex.com
