25, May 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The frank fell against the dollar amid the head of the Fed, Ms. Yellen’s speech on Friday. She said that the FOMC is likely to consider the monetary tightening which would follow a rates raise. She also noted that the employment has not reached the goal yet.

The price is finding the first support at 0.9370, the next one is at 0.9280. The price is finding the first resistance at 0.9540, the next one is at 0.9750.

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 - 0.9540. When the pair consolidates above the first target, we can open deals to the level of 0.9750.