07, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

Yesterday the pair continued its growth. The pair broke through our first goal the level 0.9465. The upward movement was stopped by the upper boundary of the Bollinger indicator.

The signal to buy is preserved. The pair is being traded below our second target - 0.9486. The second target is a strong resistance level - six months maximum.

The Tenkan-Sen is above the Kijun-Sen. The Kijun-Sen is directed upwards. The Cloud is uprising.

Everything confirms an upward movement.

The pair will grow as long as the price is above the Kijun-sen 0.9417. If the price is fixed below this level an upward movement can be canceled.

Bollinger bands are going up and broadening. That confirms the upward trend.
MACD is up as well.

Trading recommendations

We have a strong buy signal. It is recommended to open long positions. The first target of the upward movement is 0.9525. After consolidating on it the price will go to 0.9560.

The stop-loss is better to set below the Kijun 0.9417. Take-profit should be set up by 5-10 points below the goals. After receiving a profit of 20-30 points we place stop loss to a breakeven.