05, October 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

As usual, the CFTC published the franc number of net speculative positions. As economists expected the September number of jobs rose by 203,000 in the US and according to the ADP data. The employment high rate will allow the Fed to raise interest rates this year which will cause the dollar growth.

The pair resumed its upward movement.

The price is finding the first support at 0.9650, the next one is 0.9540. The first resistance is at 0.9750, the next one is at 0.9880.

There is a weak buy signal. The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal one.

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

Trading recommendations

The growth is stopped. We believe the pair will fall to 0.9650 first. Having overcome this level the price might go  to 0.9540.