25, January 2016

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The world stock markets recovery has led to the dollar renewed demand which strengthened its position against most major currencies, in particular, especially against the so-called safe haven currencies like the Swiss franc.

According to SNB President Jordan the deflation danger in Switzerland does not exist.

The price is finding the first support at 1.0100, the next one is at 0.9960. The price is finding the first resistance at 1.0190, the next one is at 1.0280.

There is a confirmed and a strong buy signal. The price is above the Ichimoku 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 – 1.0190. When the pair consolidates above the first target, we can open deals to the level of 1.0280.