01, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The franc continues to consolidate against the dollar in anticipation of the new movement catalysts.

The price is finding the first support at 0.9620, the next one is at 0.9560. The price is finding the first resistance at 0.9680, the next one is at 0.9750.

There is a non-confirmed and a weak buy signal. The price above in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

We recommend going short with the first target - 0.9560. When the price consolidates under the first target it may go to the level of 0.9500.