07, November 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The pair is still within a descending channel at a daily chart. The price is in an upward correction moving to the upper boundary of the channel at the present.

Tenkan-sen is crossed with Kijun-sen forming a "Golden Cross". Chinkou Span crosses the price chart from the bottom up, the cloud remains growing. Tenkan-sen and Kijun-sen are following the price upwards. Kijun-sen is horizontal. The cloud is growing.

The pair will return to the downward movement if it gets back below the cloud. If the price returns below the Kijun-sen, the buy signal will be weakened and the further growing will be put under the question.

Bollinger Bands indicates the change of the trend. Its bands are narrowing and directed aside.
The MACD is in a positive area right now, its histogram is decreasing.

Trading Recommendations

We recommend opening long orders to 0.9180. Though we do not exclude a consolidation at the present level or even a bounce back to 0.9090 and 0.9060.