26, June 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Once data from the United States demonstrated that CPI and housing sales grew the USA prospects for an economy recovery improved.

The price is finding the first support at 0.8920, the next one is at 0.8890. The price is finding the first resistance at 0.8950, the next one is at 0.9000.

The price is under the Cloud and under Chinkou-Span, that’s a weak and confirmed sell signal. The downward movement remains until Kijun-Sen is above the price.

MACD is in the negative territory. The indicator is descending.

Trading recommendations

The downward movement will be continued. The pair may go to 0.8880 soon.