22, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar/franc fell below 0.9330, as the SNB has decided yet to lower the interest rates. It did not lead to the Swiss franc demand and the pair rose to 0.9430 area.

The price is finding the first support at 0.9370, the next one is at 0.9330. The price is finding the resistance at 0.9430.

There is a confirmed and a strong buy signal. The price above in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement shows a downward movement. The upward movement will be until the price is above the Cloud. The Cloud is growing.

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

Trading recommendations

We advise to long with the first target - 0.9430. When the pair consolidates above the first target, we can open deals to the level of 0.9500.