08, August 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The dollar was traded near a 11-month high against other major currencies amid the rising tensions concerns in Ukraine and the eurozone economy state, strengthening the demand for safe assets.

The price is finding the first support at 0.9060, the next one is at 0.9035. The price is finding the first resistance at 0.9090, the next one is at 0.9130.

There is a confirmed and a weak buy signal. The price is on the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

The longs are relevant. The buyers’ aim is the level of 0.9100. Shall the price break this mark that will target buyers at 0.9140.