08, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is trading below the Ichimoku cloud. The Tenkan-Sen is below the Kijun-sen, both lines are going down. The Chinkou Span is below the price chart, the cloud is falling. The pair was going down the whole Friday, having broken a number of key levels on its way. The downward movement continues.

Bollinger Bands extended and directed sideways. The indicator indicates the downward movement.

MACD histogram is trading in a negative area.

Trading recommendations

We should wait until the downward movement is over. We expect consolidation and return to a growth. If the pair continues to fall it will go to the level 0.9290.

In the case of the upward movement, the pair will grow to the level 0.9415 and 0.9450.

When you open positions consider the fundamental analysis and the time of its release as well.