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 dollar strengthened its positions after a positive US housing market data. The promising Federal Reserve representatives’ comments supported the USA currency as well along side with the increased demand for safe assets after the terrorist attacks in Brussels. However, then the dollar’s growth stopped.

    The first support resides at 0.9750, the next is at 0.9660. The first resistance stands at 0.9850, the next one is at 0.9960.

    The price is in the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement forming a “Golden Cross”.

    The MACD indicator is in a neutral territory. The price is consolidating.

    Trading recommendations

    The buyers need to break above 0.9850 for a steady growth. The way to the mark 0.9960 will be opened after this breakthrough. If the price fixates below the support 0.9660, it may continue the downward trend in the short term. The potential target is 0.9580.

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