11, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc resumed its decline after the recent gains. The dollar index rises on the speculation that this week economic data publication will give additional arguments to the Fed to raise the interest rates next year.

The price is finding the first support at 0.9370, the next one is at 0.9330. The price is finding the resistance at 0.9430.

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 a horizontal movement and the Kijun-sen shows an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We advise to long with the first target - 0.9430.