18, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The dollar rose to a one-month high against major currencies, a day after Fed Chairman Janet Yellen said about the raising interest rates possibility before the expected date.

The price is finding the first support at 0.8950, the next one is at 0.8920.

The price is finding the first resistance at 0.9000, the next one is at 0.9035. There is a confirmed and 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 and form a “Golden cross”. The upward movement will be until the price is above the Cloud. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is going up.

Trading recommendations

We advise to long with the first target - 0.9000. When the pair consolidates above the first target, we can open deals to the level of 0.9035.