24, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The franc continues to consolidate in the previous price range. The market is stable with the absence of important news. The dollar buying is still in demand. The US economy shows good results, so we should expect some movement from the Fed monetary policy.

The pair continues to consolidate at the top of the growth wave.

The price is finding the first support at 0.9370, the next one is at 0.9330. The price is finding the first resistance at 0.9430, the next one is at 0.9500.

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

Trading recommendations

We may expect the fall towards 0.9340 further on we expect a growth to 0.9450 where the pair may stop.