01, August 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The data showed that the United States economy strongly accelerated in the second quarter, but growth is constrained by the Fed indication that the interest rates will remain on the same level. The sharp dollar rise led to the USD/CHF restoration to the new high in the last six months.

The price is finding the first support at 0.9060, the next one is at 0.9035. The price is finding the first resistance at 0.9090, the next one is at 0.9130.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

We advise to long with the first target - 0.9130. When the pair consolidates above the first target, we can open deals to the level of 0.9170.