USDCHF analysis for 07.12.2017

Switzerland is publishing Unemployment Rate and Foreign Exchange Reserves and the US will release EIA Natural Gas Stocks Change. The support rests at 0.98860 with resistance at 0.99420 which both lines are above the weekly pivot point at 0.97890. The EMA of 10 is moving with bullish bias in the ascendant channel but it is located below the EMA of 200 and above the EMA of 100. The RSI is rising towards the overbought area, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend. Long positions are recommended towards 0.999. https://fxglory.com/usdchf-analysis-for-07-12-2017/