21, April 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The dollar grew versus the euro, while the Swiss franc slightly retreated.
The consumer prices rose up in March by 0.2 %, while the CPI grew to 0.2 %.

The Swiss currency has stabilized from the moment as European leaders began to discuss sanctions against Russia, due to the fact, that Russia intervenes in the Ukraine events. Additional data on the economy, which currently is gone by the wayside in the field of view, should keep the growth in retail sales in the United States.

The first support is 0.8800, the next is 0.8740. The first resistance is 0.8850, the next is 0.8890.

The price is in the cloud and under Chinkou-Span, that’s a confirmed buy signal. The Kijun-sen is growing. The Tenkan-sen is directed upward. The cloud is still directed downwards. The upward movement remains until Kijun-Sen is above the price.

The MACD histogram crossed the zero line downwards; it continues to gradually decline.

Trading recommendations

We recommend opening long positions with the first target - 0.8850. If the price consolidates above 0.8850 the way to 0.8890 will be opened.