31, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The dollar touched its highest level for the last seven weeks against the major competitors in anticipation of the U.S. economic recovery. The employment report which is expected this Friday is expected to show the continued employment growth and the Fed's may leave the current monetary policy rhetoric.

The price is finding the first support at 0.9090, the next one is at 0.9060. The price is finding the resistance at 0.9130, the next one is at 0.9170.

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 going up.

Trading recommendations

We advise to long with the first target - 0.9130. When the pair consolidates above the first target, we can open deals to the level of 0.9170.