06, August 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Switzerland business activity index of purchasing managers in the manufacturing sector increased and became 57.4. According to forecasts the growth of industrial sector of the economy of Switzerland will support the franc.

The pair is trying to resume a downward movement now.

The current sell signal is confirmed and weak. The pair has resumed growth, finding a bottom at 0.9270. The pair is in the trading range of 0.9344-0.9410.

Trend lines the Kijun-Sen and Tenkan-Sen are crossed in a descending "dead cross". Tenkan-sen is in the cloud, the Kijun-sen line is above Senkou Span B and is moving in a horizontal direction. The cloud is directed down.

Bollinger Bands indicator follows the price up.
Small increases in the MACD histogram shows a rather slow decline, as it did not come to a real correction.

Trading Recommendations

The pair returned to the downside movement, passing the position conquered by bulls. Now the pair is around 0.9270, should the pair consolidate below this level it may continue to fall to 0.9215.

If the pair growth we put emphasis on the 0.9396 and 0.941.