06, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The USD/CHF is consolidating. The nearest strong support is at 0.8850. If the pair keeps falling the loss may increase to 0.8800. The immediate resistance is at 0.8890.

The pair is growing towards the Cloud that cancels the southern movement at this moment. Tenkan-sen is crossing Kijun-sen upwards. The cloud is neutral. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a positive zone. The histogram is growing.

Trading recommendations

The long positions are advised. The first target is 0.8920. A bounce back towards 0.8850 is possible.