30, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The franc continued to fall after the euro. The dollar rose after the US statistics showed that the GDP increased by 4.6% in the second quarter which met forecasts and is higher than the preliminary estimates of 4.2%. The indicator is following the GDP decline by 2.1% in the previous quarter and shows the best result since mid-2009.

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 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 recommendations

We advise to long with the target - 0.9560.