21, December 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar index reached the two-week high against the basket of major currencies after the Federal Reserve raised the interest rates, having thereby increased the US assets attractiveness. Experts expected the rates gradual increase, but still faster than it was earlier expected.

The price is finding the first support at 0.9960, the next one is at 0.9850. The price is finding the first resistance at 1.0100, the next one is at 1.0190.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”.

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

Trading recommendations

We advise to long with the first target – 1.0100. When the pair consolidates above the first target, we can open deals to the level of 1.0190.