05, November 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The franc continued to consolidate against the dollar amid the speculations that the solid economic data increases the probability of beginning interest rates process in the United States in the middle of next year. The pair slightly declined at the end of the trades.

The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the first resistance at 0.9620, the next one is at 0.9680.

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 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 correcting.

Trading recommendations

We advise to long with the first target - 0.9620. When the pair consolidates above the first target, we can open deals to the level of 0.9680.