08, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

USD/CHF has formed a new "golden cross" and is fixed above the Ichimoku cloud.

The current buy signal is confirmed and strong as Chinkou Span is below the price and the price is above the Ichimoku cloud.

So now the goal of the upward movement is the first resistance level of 0.9410. Still we should go long only after the price leaving the Cloud.

If the price consolidates at the first target the upward movement will be continued to the second resistance level 0.9450.

Bollinger bands show the upward movement, the bands slightly expanded and directed upwards.

MACD is in a positive zone, signaling an upward movement.

Trading recommendations

The pair is likely to trade between 0.9300 and 0.9450 this week. If Franc consolidates above 0.9450, it will be strengthened in the short term, targeting to 0.9500.