20, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss franc also neglected all the reduction of the first half of the day, when it fell down after dropping the Swiss government forecasts for GDP growth and the inflation for 2014. The GDP growth forecast for 2014 has been reduced from 2.3% to 2.2%, the inflation - from 0.2% to 0.1%. The pound fell down on Wednesday before the publication of the labor market report, documents of meetings of the Bank of England and the draft budget for the coming financial year. Still it grew after the FED’s decision to keep Q3 program cutting.

The support is 0.8740. The first resistance is 0.8850.

The pair is growing. Tenkan-Sen and Kijun-Sen are directed upwards. The northern movement is strong. The cloud is directed upwards. The northern movement remains until Kijun-Sen is located below the price.

Bollinger bands show a trend change. The bands are broadening.
MACD histogram is in a positive zone. The histogram is growing.

Trading recommendations

The sellers have a goal - 0.8850. The next one is 0.8890.