02, October 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc did not compensate the losses deducted before. The US dollar rose amid the expectations to raise the Fed interest rates.

The market participants predict a further dollar rise, if the US economic statistics points out to the possibility of an early interest rates rise by the US Federal Reserve.

The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the resistance at 0.9620.

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 increasing.

Trading recommendations

We advise to long with the target - 0.9620