04, July 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The current buy signal is confirmed and strong, as Chinkou span entrenched above the price.

The first target for the growth 0.9500 reached. The index of business activity of purchasing managers in the non-manufacturing sector in the U.S. in June fell. Against the background of this figure, the dollar may be correcting to the level 0.9471 and can continue its medium-term growth to 0.9622.

The upward movement will be as long as the price is above the Kijun-Sen, if the price is fixed below the Kijun-sen, the buy signal will be weakened and the further upward movement is likely to be canceled.

Chinkou Span is above the price that confirms the current buy signal and indicates a bullish sentiment of the pair.

Bollinger Bands indicator formed a fixed upward channel.
MACD is growing in a positive area.

Trading Recommendations

USD/CHF is steadily fixed above 0.9484 level and is consolidated now awaiting of drivers to continue the upward movement. The nearest resistance level for the pair is 0.9568.