09, January 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The pair dollar/franc overcame the second resistance level of 1.0100 and continues the upward movement. Then it slightly corrected.

On Friday the US Labor Department will publish the government employment report that can show the new job-creating growth for 228,000 people, according to the forecasts, the unemployment rate decreased to the 6,5 year minimum by 5.7%.

About the middle of the Tuesday American session within the given pair the bullish sentiment is dominated. The exchange rate found the strong support around the level of 1.0100.

The price is finding the first support at 1.0100, the next one is at 1.0030. The price is finding the first resistance at 1.0200, the next one is at 1.0270.

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 an upward 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 – 1.0200. When the pair consolidates above the first target, we can open deals to the level of 1.0270.