USD/CHF (a 4 hour chart)
The number of the net speculative positions from CFTC was published at the end of the week. The previous figure is 3.8, this week is 1.9.
Meanwhile, America published the second quarter GDP final changed indicator: (the previous value was 3.7% q/q, the forecast was 3.7% q/q. In fact it is 3.9% q/q.
The pair dollar/franc resumed its upward movement. However, at the end of the week, the Bears managed to test the support level of 0.9750. But to get the price lower this mark was not possible, thus the price has remained above that level.
The price is finding the first support at 0.9750, the next one is 0.9650. The price is finding the first resistance at 0.9850, the next one is 0.9960.
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 correcting.
We advise to long with the first target - 0.9850. When the pair consolidates above the first target, we can open deals to the level of 0.9960.