24, August 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

Switzerland presented the trade balance that is the payments balance largest component. The index is: 3.741V 3.509V against the earlier forecast of 2.600V. The index that is above expectations indicates the bullish market.

The pair USD/CHF broke through the level of 0.9540. This level breakthrough has opened the way to the support area of 0.9460 that was tested.

The price is finding the first support at 0.9460, the next one is at 0.9370. The price is finding the first resistance at 0.9540, the next one is at 0.9650.

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 shows a downward movement and the Kijun-sen shows a horizontal movement. 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 with the first target – 0.9370. When the pair consolidates below the first target, we can open deals to the level of 0.9280.