10, June 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The published non-farm payrolls showed the U.S. economy keeps growing. As shown by the statistics, the number of employed people in the non-agricultural sector was increased from a seasonally last month adjusted 217,000. The positive labor market data will be considered by the U.S. Federal Reserve during the decision on further minimize the quantitative easing program. The recall that minimization during the program at the end of 2014 may raise interest rates in the USA.

The price is finding the first support at 0.8950. The resistance is at 0.9000.

The price is above the Cloud and above Chinkou-Span, we have a strong and confirmed buy signal. The Cloud is directed upwards. The upward movement remains until Kijun-Sen is under the price.

MACD is in the positive territory, the indicator is growing.

Trading recommendations

We advise to go short with the first target - 0.8882. When the price consolidates below the first target, the target for sales is the level 0.8831.