USD/CHF forecast for August 17, 2015

August 17, 2015

General overview

It was expected that the US statistics would show the all published indicators positive dynamics. The July producer price index (PPI) was supposed to show a slowdown, still with the month growth by + 0.1% m/m after a 0.4% m/m in June, the industrial production release in the same month was expected with increase by 0.4% m/m vs. 0.3% m/m in June and the University of Michigan consumer sentiment preliminary index was expected with an increase over the August last period to the level of 94.0 from the previous level of 93.3.

The US dollar consolidated in the pair with the Swiss franc after its decline to the support near 0.9750. Earlier the pair rebounded from the resistance level of 0.9850.

The price is finding the first support at 0.9750, the next one is at 0.9540. The price is finding the first resistance at 0.9850, the next one is at 0.9960.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”.

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

Trading recommendations

We advise to consider short positions with the first target - 0.9750. After fixing below the first target, the level 0.9650 will become the next one. The buyers need to break above 0.9850 for a steady growth.

Publication source
Fort Financial Services information  Fort Financial Services reviews

September 28, 2016
US presidential debate moves unwind
The market’s initial response to the US presidential election debate overnight was a clear sigh of relief. The Mexican Peso, which had hit a record low against the dollar just the day before, surged higher, as too did the Canadian dollar...
September 27, 2016
Markets start last week of September on the back foot
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight...
September 23, 2016
Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...

Grand Capital Rating
FBS Rating
Larson&Holz IT Ltd Rating
FXCM Rating
OctaFX Rating
Fort Financial Services Rating

OptionRally Rating
EZTrader Rating
OptionTrade Rating
Banc De Binary Rating
IQ Option Rating
Anyoption Rating