USDCHF analysis for 21.12.2017

Switzerland has published Balance of Trade and the US will release GDP Growth Rate QoQ Final. The support rests at 0.98520 with resistance at 0.98700 which both lines are below the weekly pivot point at 0.98930. The EMA of 10 is moving horizontally in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in middle ranges. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Long positions are recommended towards 0.99. https://fxglory.com/usdchf-analysis-for-21-12-2017/