02, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The sell signal is strong and confirmed. The pair is moving in a downward correction. Yesterday CHF/USD reached an important support level 0.9300 that was broke through yesterday. The pirce tested 0.9250.

The Chinkou Span is above the price and the price is being traded below the Ichimoku cloud. The sell signal will be actual as long as the pair is being traded below the Cloud.

If the correction continues, the price may be fixed below Clouds, which will weaken the buy signal and can be the beginning of a downward movement to 0.9250.

The Tenkan-Sen is below the Kijun-Sen, the Tenkan-Sen and Kijun-Sen are directed downward. The hinkou Span is below the price chart, the Cloud started to fall.

Bollinger Bands are broadening and turning down.
MACD entered a negative area.

Trading recommendations

The pair is going to the level 0.9250. A correction to 0.9300 is possible today.

If the pressure persists the southern movement may be continued to the level 0.9210.

The correction can be dragged out and the pair can break the level 0.9335 and went under the Cloud. This will increase the pressure on the franc and may cancel the buy signal.