25, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss currency continues to lose its ground. The head of the Swiss National Bank, Jordan said the central bank would continue to defend the "threshold" franc to the euro. Meanwhile, the banker said that the franc slightly overrated and the regulator would take further action if it was necessary

The price is finding the first support at 0.9370, the next one is at 0.9330. The price is finding the first resistance at 0.9430, the next one is at 0.9500.

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

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

Trading recommendations

We advise to long with the target - 0.9500.