10, November 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

According to the latest forecasts in the world's largest economy there were created 235,000 new work places in comparison with the average growth rate of 226.670 last year. At the same time the unemployment rate is likely to remain at the level of 5.9%. The dollar has increased by 8% for the last three months that was the best result among the ten major currencies of more economically developed countries.

The price is finding the first support at 0.9620, the next one is at 0.9560. The price is finding the first resistance at 0.9680, the next one is at 0.9750.

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 shows an upward movement and the Kijun-sen shows 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 - 0.9750.