14, December 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair continued to decrease. The dollar was steady against other major currencies due to the US economic reports amid the high expectations about the Fed rates growth the next week. However by the end of the trades the dollar decreased against the majors.

The price is finding the first support at 0.9750, the next one is 0.9650. The price is finding the first resistance at 0.9850, the next one is at 0.9960.

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 and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

We advise to long with the first target - 0.9960. When the pair consolidates above the first target, we can open deals to the level of 1.0100.