11, December 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The franc stopped the downward movement. The Swiss National Bank kept the interest rates unchanged at the mark of 0.75%. The franc showed mixed trading against other majors after the interest rate publication.

The price is finding the first support at 0.9850, the next one is 0.9750. The price is finding the first resistance at 0.9960, the next one is at 1.0100.

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 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 correcting.

Trading recommendations

We may expect the growth towards 0.9960 further on we expect a fall to 0.9850 and 0.9750.