03, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar index rebounded from the five year high amid the overvalued US dollar speculation. However, the dollar resumed its growth now.

Over the past three months the dollar rose by 6.8% that was the highest result among the ten major currencies of the economically developed countries.

The price is finding the first support at 0.9680, the next one is at 0.9620. The price is finding the resistance at 0.9750.

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 and form a “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 increasing.

Trading recommendations

We recommend going long with the first target - 0.9750.