29, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

Overview

The Franc fell significantly against the dollar strengthening. The dollar index rose to almost one-month high amid the U.S. economic recovery signs.

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 correcting.

Trading recommendation

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