Fort Financial Services - Analytics

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    USD/CHF (a 4 hour chart)

    USD/CHF (a 4 hour chart)

    General overview

    The dollar fell against major currencies at the end of the week as some investors decided to close their positions. Meanwhile, the newsflow continue to support the expectations, concerning the Fed interest rates increase in December. It is early to talk about the dollar strengthening trends changes. However the dollar strengthened by the end of the trades.

    The pair is trading between the resistance level of 1.0100 and the support level of 0.9960. By the end of the trades the pair increased. The October retail sales release in the United States was published on Friday's trading. The growth rate was 0.1%, the forecasts of 0.3%, previously was recorded 0.1% growth.

    The price is finding the first support at 0.9960, the next one is 0.9850. The price is finding the first resistance at 1.0100, the next one is at 1.0190.

    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 shows a horizontal 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 - 1.0100. When the pair consolidates above the first target, we can open deals to the level of 1.0190.

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