23, May 2016

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

Switzerland published retail sales for April (1.1% vs. previous -3.1%).

The price is finding the first support at 0.9900, the next one is at 0.9850. The price is finding the resistance at 0.9950.

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is correcting.

Trading recommendations

We advise to long with the first target - 0.9950. When the pair consolidates above the first target, we can open deals to the level of 1.0000.