11, July 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The current buy signal is confirmed and weak, as Chinkou span is below the price and the pair has almost broken the Cloud through.

The pair corrected to 0.9410. The upward movement will be as long as the price is above the Kijun-Sen, if the price is fixed below the Kijun-sen, the buy signal will be weakened and the further upward movement is likely to be canceled.

Chinkou Span is below the price that confirms the current sell signal and indicates a bearish sentiment of the pair. Kijun-Sen and Tenkan-Sen are directed downwards.

Bollinger Bands indicator formed a fixed upward channel.
MACD is growing in a negative area.

Trading Recommendations

According to some assumptions the pair will be corrected down to the first support at 0.9410. After that, the pair may get in a flat.

However, the Fed protocols will probably contribute to the strengthening of the U.S. currency.

The pair reached 0.9410. We expect a sideways movement at this level. Should the falling be continued the price will go to 0.9344.