03, December 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The pair has not committed significant movements but, in general, it is able to maintain its downward movement.
Offset remains bearish in the near future, testing level 0.9040 as the nearest target. Falling Wedge is still the warning of a further possible growth if the price makes breakout above the wedge and 0.9095 resistance area, but in general, it is necessary to prefer the downward scenario at this phase.

Tenkan-sen is crossed with Kijun-sen having formed a "Dead Cross". Chinkou Span crosses the price chart from the bottom up, the cloud remains growing. Tenkan-sen and Kijun-sen are following the price downwards. Tenkan-sen is going upwards, Kijun-sen is horizontal. The Cloud is descending.

The pair will return to the upward movement if it gets back above the cloud. If the price returns above the Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.

Bollinger Bands are directed downwards right now. Its bands are broadening and are changing the direction. The MACD is at the negative zone approaching to the zero level..

Trading Recommendations

The price continue falling testing 0.9090 mark .Despite this, the chart formed a falling wedge which may cause the beginning of further growth scenario, especially if the price breaks above 0.9100 - 0.9135 resistance area.