12, November 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar again began to lose ground after a slight increase. Earlier the dollar recovers its positions after the short recession caused by the US labor report publication.

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 confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is correcting.

Trading recommendations

We recommend going short with the first target - 0.9560. When the price consolidates below the first target it may go to the level 0.9500.