27, August 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar could not continue to grow. It was traded at level of 0.9160 which is below the Asian max, while the down side fluctuations were limited by the support level of 0.9130.

While the pair is trading above the broken resistance level of 0.9090, the further growth and the 92nd figure testing possibility remain high. The 91st figure loss will weaken the "bullish" impulse and may lead to the fall to 0.9000.

The price is finding the first support at 0.9130, the next one is at 0.9090. The price is finding the first resistance at 0.9170, the next one is at 0.9210.

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 shows a horizontal movement and the Kijun-sen shows 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 - 0.9170. When the pair consolidates above the first target, we can start a deal to the level of 0.9210.