02, September 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Tom Demark indicator that helps determine the turning points of the market, indicates the presence of a high probability of growth in the dollar / Swiss currency to six-week highs, noted in the bank Credit Suisse. The pair forms the basis of the above the June low of chf91.30, and a break above chf92.91 opened the way to 93.44. The following technical objectives are chf93.97 levels and chf94.49. We expect growth of the pair.

Tenkan -Sen and Kijun -Sen are crossed in a descending "dead cross " on the daily chart. We have growing at four hour time-frame. On Thursday, the pair broke the Ichimoku cloud up. The growth was triggered by the unemployment rate in the Republic of Germany. The pair is above the cloud, Tenkan -Sen and Kijun -Sen are directed upwards.

The first target for the growth is 0.9344. Should the pair consolidated above the first target it can go to the 2nd resistance level at 0.9410.

The pair will return to the downward movement after the return under the Kijun -sen. If the price consolidates above the Kijun -sen the sell signal will be weakened.

Bollinger Bands indicator follows the price down.
The zero line crosses the MACD histogram from the bottom up, the histogram is in a positive territory and continues slowly to grow sending a buy signal.

Trading Recommendations

The pair is growing. The first target is 0.9344. Should the pair consolidate at this level it will go to 0.9410.