Fort Financial Services - Analytics

Fort Financial Services

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USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc has fallen against the US dollar. According to the data, the Switzerland unemployment rate remained unchanged at the level of 3.1% which coincided with the forecasts. Investors' attention was directed to the last week critical report and to the US labor market data. Analysts suggested that the number of jobs increased by 223,000 in July and the unemployment rate remained at the minimum level of 5.3% since April 2008. According to the published release the unemployment rate came out at the forecasted median and the number of jobs increased by 223,000.

The price is finding the first support at 0.9750, the next one is at 0.9540. The price is finding the first resistance at 0.9850, 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 growing.

Trading recommendations

We advise to long with the first target - 0.9850. When the pair consolidates above the first target, we can open deals to the level of 0.9960.

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