12, May 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The frank is correcting its achievements against the overall dollar growth trend versus the euro.

In addition to Draghi statements strengthening U.S. currency was supported by the positive economic data from the United States. In particular, it was reported, that the initial jobless claims amounted to 319K vs. 325K last week.

The first support is 0.8800, the next one is 0.8740. The first resistance is 0.8890, the next is one 0.8920. The price is above the Cloud and above Chinkou-Span, that’s a strong and confirmed buy signal.

The upward movement remains until Kijun-Sen is under the price.

The MACD histogram is pointing up, indicating the current uptrend movement.

Trading Recommendations

The franc is going to 0.8830. When the price is fixed above the first target, the main goal for buying is the level 0.8880.