09, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The franc has not changed significantly against the U.S. dollar and strengthened against the major currencies last week after the unexpectedly strong labor market data. The dollar slightly regained its position against the franc after the pair decreased to the level of 0.8860.

The price is finding the first support at 0.8920, the next one is at 0.8890. The price is finding the first resistance at 0.8950, the next one is at 0.9000.

There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The upward movement will be until the price is above the Kijun-Sen.

The MACD indicator is in a positive territory. The histogram is decreasing.

Trading recommendations

We advise long positions. The goal is 0.8975. After overcoming the first target buyers can go to the level of 0.9000.