28, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)


The U.S. dollar maintained its position against the franc. The dollar gained a support after the data published last week and showed that the initial jobless claims in the U.S. fell to the lowest level in more than eight years on last week.

The price is finding the first support at 0.9035, the next one is at 0.9000.

The price is finding the resistance at 0.9060, the next one is at 0.9090. There is a confirmed and strong buy signal. The price is above 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 growing.

Trading recommendations

We advise to long with the first target - 0.9060. When the pair consolidates below the first target, we can open deals to the level of 0.9090.