05, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Tenkan-Sen is below the Kijun-sen, both lines are horizontal. The Chinkou Span is below the price chart, the cloud is neutral. The pair was going down the whole day, having broken a number of key levels on its way. Frank was able to break through the cloud and it is trading below of it.

Bollinger Bands shows the uncertainty of the market, the lines are directed in different directions.

MACD histogram is trading in a negative area.

Trading recommendations

It is recommended to wait until the market is clarified. The market is still under the influence of yesterday's news. We do not known how long the correction will last and whether it is a correction at all.

If the pair continues to go down the pair will fall to 0.9335. If the pair returns to the upward movement, the first goal will be the level 0.9415. After consolidation at it the pair will go to 0.9451.

When you open positions consider the fundamental analysis and the time of its release as well.