03, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is working out a "dead cross". The correction is over, the pair is back to the upward movement.

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

The northern movement continues to the level 0.9525. But first, the pair should consolidate at the level 0.9486. This level was just tested yesterday.

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 aside.

MACD histogram entered the negative zone.

Trading recommendations

We have a strong buy signal. The pair almost got into the cloud. But it did not happen, the pair went to the top edge of the cloud, and did not go into it. 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.