08, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss authorities decided to pay the fixed size benefits for every citizen. This measure was taken in exchange for the social benefits provision population by the traditional methods, such as payments to the unemployed, food stamps and payment of housing loans.

The price is finding the first support at 0.9750, the next one is at 0.9680. The price is finding the resistance at 0.9800.

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 increasing.

Trading recommendations

We advise to long with the first target - 0.9800.