19, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar has grown against the most currencies as the Fed missed its traditional appeal to keep rates at the zero level for "the considerable period of time" and at the end of the two-days meeting kept its benchmark rate unchanged at the level of 0.25% 0 where it is since 2008.

The price is finding the first support at 0.9800, the next one is at 0.9750. The price is finding the resistance at 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 an upward movement and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

We advise to long with the first target - 0.9850.