07, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Frank reacted to the news from Europe having fallen to the level 0.8800.
The nearest support is at 0.8800. Below loss may grow to 0.8740. The resistance is at 0.8850.

The pair is falling. Tenkan-sen and Kijun-sen are horizontal. The southern movement is strong. 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 negative zone. The histogram is descending.

Trading recommendations

The long positions are canceled, to go short is advised. The first target is 0.8740. A bounce up towards 0.8850 is possible.