17, November 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar decreased against the frank after the US Labor Department reported that the jobless claims rose by 12,000 last week, reaching 290,000.

The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the first resistance at 0.9620, the next one is at 0.9680.

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 a downward movement and.

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

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.