04, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar index hit to the five-year high, on the eve of the important economic releases publication that could lead to an increase in speculation about monetary tightening in the United States. Against this background, the franc recorded a significant decline.

The price is finding the first support at 0.9750, the next one is at 0.9680. The price is finding the resistance at 0.9800.

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 recommend going long with the first target - 0.9800.