20, July 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar rose against other major currencies. Last week the dollar index reached the seven week high after the labor market solid data have led to the expectations increase about the Fed raising interest rates before the end of 2015.

The price is finding the first support at 0.9540, the next one is at 0.9370. The price is finding the first resistance at 0.9750, the next one is 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 upwards movement and the Kijun-sen shows 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 growing.

Trading recommendations

We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9850.