03, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The pair dollar/franc is trading in the mid- descending corridor. It is logical to assume that the price will go to the support level 0.8850. We expect a bounce back.

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

Interest in sales is supported and the pair fell back to the new lows. Thus, the decline to the support at the 0.8800 in the short term looks very likely. The rising above the 0.8930 will return bulls the hope for the recovery.