25, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)


The Swiss franc is trading in a range. The head of Swiss National Bank Jordan said that the franc is still too overrated. The June inflation in the U.S. rose by 0.3%, in line with expectations, emphasizing the view that the economy is still improving.

The price is finding the first support at 0.9000, the next one is at 0.8950. The price is finding the resistance at 0.9035, the next one is at 0.9060.

There is a confirmed and 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 consolidating.

Trading recommendations

We advise to long with the first target - 0.9035. When the pair consolidates above the first target, we can open deals to the level of 0.9060.