06, January 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The franc reduced amid the dollar growth. In general, the dollar index rose by 12.3% since the beginning of the year becoming the absolute leader among the 10 currencies of the most economically developed countries. Ii is the best result for the last decade.

The price is finding the first support at 1.0030, the next one is at 0.9960. The price is finding the resistance 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 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 advise to long with the first target – 1.0100.