30, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The U.S. dollar is strengthening its position against the franc in FOMC next meeting anticipation. The pair is close to the support area at 0.9060 which was the last time tested on the last fall. The Fed meeting records and the July employment report may support the U.S. currency.

The price is finding the first support at 0.9060, the next one is at 0.9035. The price is finding the resistance at 0.9090, the next one is at 0.9130.

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 open long positions with the first target - 0.9090. Once we break above this level we think that the level of 0.9130 will be the next one.