02, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is working out a "golden cross". The Frank began the week with a correction. The sell signal is a false one and the pair will return to the northern movement soon.

Tenkan-Sen is below the Kijun-Sen, the two lines are neutral. The Cloud is growing.

When the correction is over the price will continue to grow to the level 0.9525. But first, the pair should consolidate at the level 0.9486.

The upward movement is strong as long as the pair is above the Kijun-sen, if the price goes below this line, it can return to the downward movement.

Bollinger Bands show a possible continuation of the correction. The Bands are directed down.

MACD histogram entered the negative zone.

Trading recommendations

We have a strong buy signal. We recommend considering long positions.

The first goal of the northern movement is the level 0.9486. After consolidation at it the pair will go to 0.9525.

The upward movement will continue until the pair is above the cloud.

When you open positions consider the fundamental analysis and the time of its release as well.