08, August 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

In comparison with the value for May 2013, which was revised in June, the trade deficit of the United States has fallen by 22.4%, ie to 34.22 billion dollars.

The pair continues its downward movement. The current sell signal is confirmed and strong. The pair has resumed growth, finding a bottom at 0.9215. The pair is in the trading range of 0.9270-0.9215.

Trend lines the Kijun-Sen and Tenkan-Sen are crossed in a descending "dead cross". Tenkan-sen is in the cloud, the Kijun-sen line is above Senkou Span B and is moving in a horizontal direction. The cloud is directed down.

Bollinger Bands indicator follows the price down.
MACD is around zero histogram.

Trading Recommendations

A minimum 0.9215 remains under threat after the fall from a high 0.9390. A break below 0.9215 will target the pair to the June minimum 0.9174.

Should the pair return above 0.9270 that will change the tone of the pair, targeting it to the lower high 0.9344.