05, January 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc consolidated in the narrow range against the dollar. The pair increased with a gap on Friday’s trades.

The dollar ended 2014 with growth amid the US economic growth signs that gives the Fed a reason to begin the interest rates raising the current year.

The price is finding the first support at 0.9960, the next one is at 0.9900. The price is finding the first resistance at 1.0030, the next one is at 1.0100.

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. 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 first target – 1.0030. When the pair consolidates above the first target, we can open deals to the level of 1.0100.