04, December 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Non farm payrolls for the 22th of November totaled 316K vs. 326K. It is possible to assume that with the resumption of the weakness of the U.S. currency the positive data on GDP in Switzerland put pressure on. The resistance remains at Monday's high level 0.9130. Above the resistance 0.9170 the next resistance is at 0.9200 (highs of November 13), then at 0.9250.

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 pair is falling testing the support level at 0.9040. Should the price break it the pair may go towards 0.8990. The correction towards 0.9060 is possible.