USD/CHF (a 4 hour chart)
As seen in the four-hour chart the currency made a U-turn from the level 0.9025 and moved to the upward movement. Price overcame important resistance levels 0.9039 and 0.9052 and it is currently testing the 0.9077.
We can see that Tenkan-sen and Kijun-sen merged and remain horizontal since the last week. Chinkou Span follows along the price chart, the current cloud is downward. The pair is below the cloud and the Kijun-sen line, which becomes a resistance level.
The pair will return to the downward movement after the return under the Kijun-sen and the Cloud what is happening now. If the price returns above the Kijun-sen, the sell signal will be weakened and the further growth will be put under question.
Bollinger Bands indicates further growth. The MACD histogram is oversold, its volume decreases, soon it can go into the overbought zone forming a buy signal.
The MACD histogram is in a negative area.
We recommend to open long positions from the current level with take-profit at levels 0.9094 and 0.9136. Short positions can be opened in the event of a price reversal, profits can be fixed at the level of 0.9052.