23, April 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The franc is stabilized after the international community taken steps to de-escalate the conflict in eastern Ukraine.

From a technical point of view, the USD/CHF is entrenched above 0.8800.

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

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

The MACD histogram is in the positive zone.

Trading Recommendations

We recommend long positions with the first target - 0.8860. When the price consolidates above the first target it may go to the level 0.8885.