24, November 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The US consumer price inflation is above the predicted values, but it is not a reason for the active dollar sales and purchases. The pair sharply increased at the end of the Friday trades.

The price is finding the first support at 0.9680, the next one is at 0.9620. The price is finding the resistance at 0.9720.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a negative territory. The price is increasing.

Trading recommendations

We recommend going short with the first target - 0.9620. When the price consolidates below the first target it may go to the level 0.9560.