12, October 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The CFTC published the weekly report showing the number of net speculative positions within the franc: -2.7K earlier, this week index was 4K. Investors focused on the US three-day summit results which began last week Friday.

The price is finding the first support at 0.9540, the next one is 0.9370. The price is finding the first resistance at 0.9650, the next one is at 0.9750.

There is a confirmed and a strong sell signal. The price is below the Cloud and it is below the Chinkou Span. The Tenkan-sen and the Kijun-sen are directed downwards. The downward movement will be until the price is below the Cloud.

The MACD is in a negative territory. The price is decreasing.

Trading recommendations

We suppose the pair will go to 0.9540 first. The second sell target is the level of 0.9370.