02, October 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Switzerland August retail sales fell by 0.3% against the growth forecast by 0.3% after the previous 0.1. Then, the August retail sales rose up by 0.5% m / m. The Switzerland business activity index fell to 49.5 in September from the previous 52.2. The US number of initial jobless claims was expected 270K vs. 267K while it amounted 277K.

The price broke through the resistance level of 0.9750 and the price steadily fixed above this mark.

The price is finding the first support at 0.9750, the next one is 0.9650. The price is finding the first resistance at 0.9850, the next one is at 0.9960.

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

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

Trading recommendations

We suppose the pair will go to 0.9850 first. Having overcome the first target the price might go upwards to 0.9960.