26, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc fell against the dollar. The dollar had a surprisingly strong data about the state of the US housing market. In result the Fed raising interest rates will be likely increased in the nearest future.

The price is finding the first support at 0.9430, the next one is at 0.9370. The price is finding the first resistance at 0.9500, the next one is at 0.9560.

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 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 correcting.

Trading recommendations

We advise to long with the target - 0.9500. When the pair consolidates above the first target, we can open deals to the level of 0.9560.