04, September 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar has grown against the Swiss franc amid the global stock markets fragile stabilization.

The pair dollar/franc continues its growth. The pair broke through the resistance level of 0.9650 and tested the level of 0.9750.

The price is finding the first support at 0.9650, the next one is 0.9540. The price is finding the first resistance at 0.9750, the next one is at 0.9850.

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 under the Cloud.

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

Trading recommendations

We advise to long with the first target - 0.9850. When the pair consolidates above the first target, we can open deals to the level of 0.9960.