07, 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 pair USD/CHF continued its falling and fixed at 0.9270. We can expect the price to fall to 0.9215 and below. Still we belive that the pair is going to start a correction today after yesterday’s falling.

The pair can start a correction up to 0.9344 and 0.9410.