06, April 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview 

The range trade was again observed at the end of the last week within most of the major currency pairs. Perhaps it could be due to the fact that some traders have already gone to the Easter holidays and those who continue the trade have strengthened while waiting the US employment data output. The dollar decreased against the franc and the others majors after the Non-Farms publication.

The price is finding the first support at 0.9370, the next one is at 0.9280. The price is finding the first resistance at 0.9540, the next one is at 0.9750. 

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud. 

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

Trading recommendations 

We advise to short with the first target - 0.9370. When the pair consolidates above the first target, we can open deals to the level of 0.9280.