07, January 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar remains positive against the European currencies amid expectations that the growing divergence in economic growth rates and monetary policy between Europe and the United States in the coming year will continue to support the US currency despite the fact that the Federal Reserve made it clear that it would not rush to increase rates at least until the end of April.

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 correcting.

Trading recommendations

We advise to long with the first target – 1.0100.