19, August 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Index assessment of the economic situation over the last year has grown to seven compared to the first quarter (5). The consumers' opinion about a successful time for large purchases has been improved, that is proved by the corresponding index increase from 1 in the previous quarter to 8. Nevertheless, the Swiss noted the deterioration of its financial position for the last time during the second quarter which resulted as the reduction of the corresponding index to -7 from the previous value -5.

The price is finding the first support at 0.9030, the next one is at 0.9000. The price is finding the first resistance at 0.9060, the next one is at 0.9090.

There is a confirmed and strong sell signal. The price is below the Cloud and it is below the Chinkou Span. The Tenkan-sen and the Kijun-sen directed downwards. The Cloud is descending.

The MACD indicator is in a negative territory. The price is correcting downwards.

Trading recommendations

We still recommend going short. The mark 0 9030 is the first goal. After overcoming the first target the price can go to 0.9000.