30, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The last week was marked by the franc consolidation in a limited range. The dollar was corrected after a growth, which was triggered by the of USA GDP release that showed the greatest growth over the past eleven years. This fact increases the likelihood that the Fed will raise rates on interest next year. The pair reached new highs on yesterday's trades.

The price is finding the first support at 0.9850, the next one is at 0.9800. The price is finding the first resistance at 0.9900, the next one is at 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 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 increasing.

Trading recommendations

We advise to long with the first target - 0.9960.