14, March 2016

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

No important macroeconomic statistics was published last Friday. The course of trading was determined by the world's leading stock exchanges. Meanwhile, the US dollar found a support when the US Labor Department published Initial Jobless Claims. The index fell by 18,000 to 259,000 from 277,000 in the previous week. Analysts had expected a decrease of 2,000 to 275,000.

The first support resides at 0.9800, the next is at 0.9750. The first resistance stands at 0.9880, the next one is at 0.9960.

There is a confirmed and a strong sell signal. The price is below the Ichimoku Cloud. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is below the Cloud.

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

Trading recommendations

We recommend to short. The first sell target is the level of 0.9800. Having broken this level the pair shall go deeper to 0.9750.