26, May 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The dollar keeps moderately positive attitude on the generally positive economic data.
So, according to the U.S. Department of Labor, the Initial Jobless Claims rose from 298,000 to 326,000, while the average forecast was 305,000.

The sales in the secondary housing market showed a small increase 1.3 % in April after three consecutive months of a decrease. However, the index is still 6.8% below the year in April 2013.

The price is finding the first support at 0.8950, the next one is at 0.8920. The price is finding the resistance at 0.9000.

The price is above the Cloud and above Chinkou-Span, that’s a strong and confirmed buy signal.
The upward movement remains until Kijun-Sen is under the price.

MACD is in the positive territory that supports the growth.

Trading recommendations

We advise long positions with the first target - 0.8970. After consolidation above the first target, the buyers’ target is the level 0.9015.