06, June 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair continues working out a sell signal. The current sell signal is confirmed and strong as Chinkou Span entrenched below the price chart and the price is below Ichimoku cloud.

If the price fixes below the first target a new target will be available for the downward movement. The downward movement will be as long as the price is below Kijun-sen. If the price fixes above this level the sell signal would weaken and may be cancelled.

Bollinger Bands show a continued downward movement, the bands are broadening.
MACD is in a negative area and keeps going down.

Trading recommendations

The dollar is being corrected to 0.9410 support line. We expect growth to the resistance level 0.9650 and 0.9870.

If the pair breaks the 0.9410 pivot line, it will go to 0.9240.