20, November 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc rose slightly after the FOMC minutes publication. The Switzerland government reported that Jordan can hold intervention in the currency market. According to his words, negative rates lead to the overvalued franc.

The price is finding the first support at 1.0100, the next one is 0.9960. The price is finding the first resistance at 1.0190, the next one is at 1.0280.

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 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 correcting.

Trading recommendations

We advise to long with the first target – 1.0190. When the pair consolidates above the first target, we can open deals to the level of 1.0280.