01, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

The dollar strengthened after the preliminary data showed that the United States domestic product gross was increased by 4.2% in the second quarter, exceeding the growth expectations of 3.9%.

The price is finding the first support at 0.9170, the next one is at 0.9130. The price is finding the resistance at 0.9210.

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 shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

If the price decreases we advise to short with the first target - 0.9130. When the pair consolidates above the first target, we can open deals to the level of 0.9090. If the price grows we advise to long with the first target - 0.9170. When the pair consolidates above the first target, we can open deals to the level of 0.9210.