11, February 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The disappointing news regarding the USA labor market supported the frank. They are higher than the December numbers 75,000, but well below the average forecast. The unemployment rate fell to 6.6% from 6.7 %, while analysts had forecast 6.7 %.

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement; its bands are broadening confirming the sell signal.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

If the pair keeps falling it will go straight to 0.8940 and if it changes its mind the pair will grow to 0.9040, then to 0.9130.