USD/CHF (a 4 hour chart)
Yesterday the price was trading in sideways of Bollinger bands. The pair is slowly but surely moving to designated target - level 0.9335. The pair closed to the level yesterday, tested it. We expect that the price fixes on it today.
The Tenkan-Sen is under the Kijun-Sen, both lines are horizontal. The Chinkou Span is under the price chart, the direction of the cloud is rising.
The Chinkou Span is above the price, and the price of the Ichimoku cloud. All of this suggests a continued upward movement.
The upward movement will be actual as long as the price is above the Kijun-sen. If the price is fixed below the mentioned level the northern movement will become questionable.
Bollinger bands are horizontal. A forecast- The pair will remain in a flat this week.
MACD is up but goes down, which may indicate a possible correction.
We have a strong buy signal and recommend opening long positions. The first target of the upward movement is 0.9335 level. The price will go to 0.9406 after passing it.
It is better to place stop-loss below the Kijun. Take-profit is to be placed 5-10 points above the target levels. After receiving a profit of 20-30 points we place a stop loss to a breakeven.
If the price moves to the correction of the Ichimoku cloud. We assume that the purpose of correction, the lower boundary of the cloud. If price can break the cloud and entrenched under it, the price will go down to the level of 0.9218.