21.11.2014 USD/CHF (A 4 HOUR CHART) General overview The Swiss franc leveled daily gains against the dollar after the Federal Reserve published the last meeting minutes in October. In general, the minutes did not surprise traders, however, FOMC members discussed the need of the monitoring more carefully the inflation expectations. Moreover, some Fed representatives believe that the United States faced with limited risks from the global economy part. The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the first resistance at 0.9620, the next one is at 0.9680. There is a confirmed and a strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud. The MACD indicator is in a negative territory. The price is consolidating. Trading recommendations We recommend going short with the first target - 0.9560. When the price consolidates below the first target it may go to the level 0.9500.
Posted on: Fri, 21 Nov 2014 09:30:47 +0000
Trending Topics
Recently Viewed Topics
© 2015