11, September 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair USD/CHF has fallen. The UK presented the initial jobless claims report: there was expected 275K while earlier it was expected 282K. The data came out at the forecasted median. Investors are taking a wait and see attitude in anticipation of the Fed meeting. The American monetary regulator will announce its interest rates decision just in a week.

The pair dollar/franc is again correcting. The support level of 0.9750 was broken through downwards.

The price is finding the first support at 0.9650, the next one is 0.9540. The price is finding the first resistance at 0.9750, the next one is 0.9850.

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 downward movement and the Kijun-sen shows an upward movement and form a “Golden Cross”. 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 recommend going long with the first target - 0.9750. When the price consolidates above the first target it may go to the level 0.9850.