24, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

Traditionally investors buy the dollar in the absence of new factors and amid the expectations that the Fed will raise interest rates in 2015. The US GDP report will be published and according to the forecasts will show the economic growth has exceeded 4% in the second quarter in a row.

The price is finding the first support at 0.9850, the next one is at 0.9800. The price is finding the resistance at 0.9900.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

We advise to long with the first target - 0.9900.