05, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

The Swiss franc fell against the dollar. There were not any national macrostatistics, so the first rate dynamics was formed by the United States Statistics. The United States labor market continues to slow the growth, but the changes in wages and the price pressures are not seen. The pair rose sharply after the ECB meeting.

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 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 growing.

Trading recommendations

We advise to long with the first target - 0.9300. When the pair consolidates above the first target, we can open deals to the level of 0.9370.