09, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The franc decreased against the dollar strengthening. Last Friday the dollar index rose to its highest level since August 2006 after the employment report confirmed that the US economy was recovering with the stronger pace than economists could imagine.

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 correcting.

Trading recommendations

We advise to long with the first target - 0.9800.