08, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

The franc suffered losses against the general dollar trend due to expectations that the world's largest economy strengthening signs will allow the Fed to start the monetary policy normalizing process sooner than expected.

The price is finding the first support at 0.9270, the next one is at 0.9210. The price is finding the first resistance at 0.9330, the next one is at 0.9370.

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 fixing.

Trading recommendations

We advise to long with the first target - 0.9330. When the pair consolidates above the first target, we can open deals to the level of 0.9370.