25, April 2016

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar rose against the Swiss franc at the end of the week. The economic calendar was empty and the market paid attention to the news from the USA. In the US, Manufacturing PMI decreased. The index showed 50.8 with the forecast of 52.0.

The price is finding the first support at 0.9750, the next one is at 0.9700. The price is finding the first resistance at 0.9800, the next one is at 0.9850.

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 Kijun-sen show an upward movement. The upward movement will be continued while the price stays above the Cloud.

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

Trading recommendations

The pair is growing to 0.9900. We expect a correction to 0.9750.