29, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

After insignificant correction the franc continues to consolidate after the achieved fresh lows against the US dollar.

The dollar reached a four-year high after Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp. announced further US dollar rise due to the possible Fed interest rates growth in the middle of the next year against the monetary policy preservation by major central banks.

The price is finding the first support at 0.9500, the next one is at 0.9430. The price is finding the resistance at 0.9560.

There is a confirmed and a strong buy signal. The price above in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is rising.

Trading recommendations

We advise to long with the target - 0.9560.