03, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

The dollar gained on the euro weakness and the Asian markets rise which have kept the investors demand for the yen refuge.

The price is finding the first support at 0.9170, the next one is at 0.9130. The price is finding the first resistance at 0.9200, the next one is at 0.9240.

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 a horizontal movement. The pair is back to the “Golden Cross”. 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 - 0.9240. When the pair consolidates above the first target, we can open deals to the level of 0.9300.