05, March 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Swiss Franc continues to consolidate after a slight pullback. The latest published data confirmed that the ISM index in February rose to 53.2 against 51.3 in January.

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

We recommend selling the frank. The first goal is 0.8742. When the price fixes below the first target, it might go to 0.8684.