07, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Franc fell versus the dollar falling the euro. Earlier this week, the dollar strengthened slightly after IMF Managing Director Christine Lagarde said that the growth rate of the economy were improving, and they accelerated as business sentiment would be clearer in 2014.

From a technical point of view, USD/CHF broke through trendline resistance and remains optimistic. Another resistance is near 0.9100 and 0.9180 (maximum of 20 November). Immediate support is at 0.8980, 0.8930/20 area below.

The price is directed upwards. Chinkou Span is above the price. The price is above the cloud.

Northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is growing, Kijun sen is horizontal. The cloud is growing.

Bollinger bands show an upward movement.
MACD histogram is located in the positive zone and below its signal line. The histogram is growing.

Trading recommendations

The growing is slowing down. The long orders target is 0.9094 and 0.9084. The correction or falling will send the pair to 0.8990.