11, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

In the evening the Swiss Franc was able to recover the fall by 50% against the dollar.

The dollar suffered losses against the most major currencies after another collapse in energy prices, triggering speculations that the Fed can hold off raising interest rates without fear of inflationary pressures.

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 sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows 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 decreasing.

Trading recommendations

We advise to short with the first target - 0.9620. When the pair consolidates under the first target, we can open deals to the level of 0.9560.