USD / CHF Forecast May 13, 2016
The dollar continues to suffer from the pressure caused by the uncertainty over the prospects for global growth. overseas data were presented regarding the number of US unemployed who applied for the grant, which came at 294000. The value previously was 274,000, expected to see an increase to 277,000.
After rising to the 0.9750 resistance instrument began a sharp correction movement. After a short consolidation above the support 0.9660 the pair continued to decline.
In the area of 0.9660 is the first support below - 0.9580. In the area of 0.9750 is the first resistance, above - 0.9850.
A buy signal is strong and confirmed. Price is above the Ichimoku cloud and above the line Chinkou-Span.Tenkan-sen shows the horizontal movement and the Kijun-sen - the rising and form "Dead Cross". The urgency of the upward movement will continue as long as the price is above the Ichimoku cloud.
The MACD histogram is in the positive zone. The price is adjusted.
Trading recommendations USD / CHF
Longovye positions with Target at 0.9750 CHF remain relevant. If quotes can break through this mark, it will be a free path to the mark of 0.9850.
Source Fort Financial Services