12, March 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Last This Monday Frank slightly declined, however, the situation hadn’t undergone a radical changes.

In his speech the Fed's representative Plosser said, in particular, that the recent U.S. economy weakening happened due to a poor weather conditions. He also noted that a recent report on the U.S. labor market has been encouraging. According to Plosser, the U.S. economic growth in 2014 will be 3.0% and the unemployment rate will fall to 6.2%.

The support level is 0.8740. The resistance level is 0.8800, the next – 0.8850.

The pair is falling. Tenkan-sen and Kijun-sen are horizontal. The southern movement is strong. The cloud is directed down. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

We prefer to sell with the first goal -0.8724. After consolidation the pair may go to the level 0.8671.