28, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

The Swiss Franc compensated losses incurred earlier at the end of the day.
The U.S. data showed that the U.S. consumer confidence index grew up to 82.3 pp in March, higher than the February values in 78.3. The March value exceeded analysts’ forecasts in 78.4.

The support is 0.8850. The first resistance is 0.8890.

The price is above the cloud and under Chinkou-Span, that’s a confirmed buy signal. Both trend lines are moving horizontally. The cloud is directed upwards. The northern movement remains until Kijun-Sen is located below the price.

MACD histogram is still in a positive area, but below its signal line. The indicator shows a buy signal.

Trading recommendations

The Franc is directed towards 0.8890. After fixing above the level 0.8950 will become the next goal.