10, December 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Frank grew up although the dollar initially strengthened on Friday after the Non-Farm Payrolls strong report but it soon retreated.

U.S. Department of Labor announced that the U.S. economy could create 203,000 new vacancies and the unemployment rate fell to 7 % from 7.3 % in November. Economists had forecast the employment growth for 180,000 and the unemployment rate was expected to be around 7.2 %.

Tenkan-sen is crossed with Kijun-sen having formed a "Dead Cross". Chinkou Span crosses the price chart from the bottom up, the cloud remains falling. Tenkan-sen and Kijun-sen are following the price downwards. The Cloud is descending.

The pair will return to the upward movement if it gets back above the cloud. If the price returns above the Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.

Bollinger Bands are directed downwards right now. Its bands are broadening. The MACD is at the negative zone approaching to the zero level.

Trading Recommendations

After a sharp drop last week, the pair is still close to 0.8891. This level was the minimum of 2013 and was reached in October. There is a risk of reduction to 0.8828 in the short term.