11, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair continues to grow. The pair worked two of the targeted levels last Friday: 0.9486 and 0.9525. The upward movement was stopped by the upper boundary of the Bollinger indicator, which coincided with our second goal the level 0.9525.

The signal to buy is preserved. The Tenkan-Sen (0.9482) is above the Kijun-Sen (0.9470). Kijun-Sen is going upward. The Ichimoku Cloud is upward as well.

The growing will be relevant as long as the price is above the Kijun-sen. If the price is fixed below this level the upward movement may be cancelled.

Bollinger bands is going upwards, its bands are extending.
MACD is going up as well.

Both indicators confirm the upward movement. The upward trend is stable.

Trading recommendations

We recommend opening long positions. The buy signal is strong and confirmed. The first target is 0.9525. The price tested it last Friday. The pair may stay at this level for a while or we can expect a correction towards levels 0.9486 and 0.9451. The second target of the northern movement is the level 0.9560.