09, March 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The pair dollar/franc will consolidate with a tendency to increase after it reached the 6-week high of 0.9755 then the pair increased to the level of 0.9858. Its dynamics was affected by the US non-farm employment data results. The pair is supported with the large-scale improved market’s attitude towards the dollar.

The price is finding the first support at 0.9750, the next one is at 0.9540. The price is finding the first resistance at 0.9950, the next one is at 1.0160.

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 growing.

Trading recommendations

We advise to long with the first target - 0.9950. When the pair consolidates above the first target, we can open deals to the level of 1.0160.