15, June 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The solid retail sales data supported the dollar against the franc. The US retail sales was + 1.2% against the expected + 1.2% in May. The initial jobless claims reached 279k against forecasted 277.

The price is finding the first support at 0.9160, the next one is at 0.9060. The price is finding the first resistance at 0.9280, the next one is at 0.9370.

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 and form a “Golden Cross”. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

We advise to short with the first target - 0.9160. When the pair consolidates below the first target, we can open deals to the level of 0.9060.