14, May 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Frank continues to trade under the euro/dollar background influence. The main market course for today is the dollar strengthening against major competitors.

The first support is 0.8850, the next one is 0.8800. 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

We advise going long with the first target - 0.8921. After consolidating above the first target, the pair will grow to the level 0.8982.