18, May 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar slightly strengthened its position against the franc after the published data showed that US initial jobless claims for the last week amounted to 264K against forecasted 273K. The index was near 15-years low that indicates the labor market positive trends.

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

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 “Dead Cross”. 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 short. When the pair consolidates below the level of 0.9160, we can open deals to the level of 0.9060.