10, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Swiss franc retreated versus the U.S. dollar. FOMC minutes did not impact the market while the labor market data were stronger than expected.

In accordance with the protocol FOMC committee members see less positive from the continuation of the QE program; committee members believe that the program of asset purchases will be completed in 2014.

USD/CHF broke through July 9 trendline resistance at 0.9020 (now a support) and tested the resistance at 0.9100. We have another resistance higher near 0.9180 ( the maximum of 20 November).

The price is directed upwards. Chinkou Span is above the price. The price is above the cloud.

Northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is growing, Kijun sen is horizontal. The cloud is growing.

Bollinger bands show an upward movement.
MACD histogram is located in the positive zone and below its signal line. The histogram is growing.

Trading recommendations

The pair reached a new high, and yet in no hurry to leave it up. The northern movement comes to "naught." We expect the correction toward the clouds, the first target is 0.9090, the second will be 0.9040.